Introduced
by
To eliminate a requirement that school districts must pay back their debt to a state School Bond Loan Fund by a “final repayment date” determined for each district by the state treasurer. The requirement was instituted by a <a href="http://www.michiganvotes.org/2005-SB-406">2005 law</a> to fix the problem of districts extending debt on old projects by combining with additional borrowing for new projects.
Referred to the Committee on Financial Liability Reform
