Michigan Votes Forum

Introduced in the Senate on March 19, 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 $50 million in tourism industry promotion subsidies proposed by Senate Bill 1223

The vote was 37 in favor, 0 opposed and 1 not voting

(Senate Roll Call 220 at Senate Journal 33)

Click here to view bill details.

Rep. Agema, having reserved the right to explain his protest against the passage of the bill, made the following statement: “Mr. Speaker and members of the House: The cost of this bill in the long run from bond issue is huge. Government can’t seem to stop spending money it doesn’t have and mortgages the future.”

Rep. Sheen, having reserved the right to explain his protest against the passage of the bill, made the following statement: “Mr. Speaker and members of the House: No Vote on HB 1223 - 1224 My first concern is that we are we taking money from the funding of scholarships which it was intended and must still be funded. This will also create an additional 35 million dollars of debt, which we will have pay on for years to come and does not deal with long term funding problem of tourism. It is another example of a one year short term fix, with long term implications and encumbrances.”

Yuck. Hope tourist aren't reading this.

I'd refuse to participate if I were an Olympian