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2008 House Bill 5866: Authorize new debt for tourism industry subsidies

Public Act 101 of 2008

  1. Introduced by Rep. Terry Brown (D) on March 6, 2008, to revise the law that authorized borrowing $400 million against future tobacco lawsuit settlement revenue for the “21st Century Jobs Fund” business subsidy program, so as to refinance some of the existing debt, reissue some of the debt as tax-exempt bonds, and borrow more money against this revenue source to pay for the $60 million in tourism industry promotion subsidies proposed by House Bill 5865.
    • Referred to the House Natural Resources, Tourism, and Outdoor Recreation Committee on March 6, 2008.
      • Reported in the House on March 11, 2008, without amendment and with the recommendation that the bill pass.
  2. Passed 95 to 13 in the House on March 18, 2008.
    Who Voted "Yes" and Who Voted "No"

  3. Received in the Senate on March 20, 2008.
    • Referred to the Senate Commerce & Tourism Committee on March 20, 2008.
      • Reported in the Senate on March 27, 2008, with the recommendation that the bill pass.
    • Substitute offered in the Senate on April 16, 2008, to replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described. The substitute passed by voice vote in the Senate on April 16, 2008.
  4. Passed 37 to 0 in the Senate on April 16, 2008, to revise the law that authorized borrowing $400 million against future tobacco lawsuit settlement revenue for the “21st Century Jobs Fund” business subsidy program, so as to refinance some of the existing debt, reissue some of the debt as tax-exempt bonds, and borrow more money against this revenue source to pay for the $60 million in tourism industry promotion subsidies proposed by House Bill 5865.
    Who Voted "Yes" and Who Voted "No"

  5. Received in the House on April 16, 2008, to concur with the Senate-passed version of the bill. Passed 88 to 19 in the House on April 16, 2008.
    Who Voted "Yes" and Who Voted "No"

  6. Signed by Gov. Jennifer Granholm on April 18, 2008.

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