2015 House Bill 4758 / 2016 Public Act 27

Revise drain commission debt detail

Introduced in the House

June 18, 2015

Introduced by Rep. Al Pscholka (R-79)

To revise details of the types of debt drain commissions are allowed to incur, so as to allow them to borrow using term bonds with mandatory redemption ("term bonds").

Referred to the Committee on Local Government and Municipal Finance

Oct. 7, 2015

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Oct. 14, 2015

Passed in the House 106 to 0 (details)

Received in the Senate

Oct. 20, 2015

Referred to the Committee on Local Government

Feb. 3, 2016

Reported without amendment

With the recommendation that the bill pass.

Feb. 17, 2016

Passed in the Senate 36 to 0 (details)

To revise details of the types of debt drain commissions are allowed to incur, so as to allow them to borrow using term bonds with mandatory redemption ("term bonds").

Signed by Gov. Rick Snyder

March 1, 2016