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Legislation watch
2007 House Bill 4766: Balance budget with reduced pension fund contribution
Public Act 22 of 2007
Introduced by Rep. Lee Gonzales (D) on May 16, 2007
To change definitions in the school and state employees pension law so as to allow a one-time pension contribution that is less than the true actuarially sound amount under generally accepted accounting principles. The bill is one of several that are part of bipartisan plans to close a gap between desired spending and expected revenues in the Fiscal Year 2006-2007 budget. Official Text and Analysis.
Referred to the House Appropriations Committee on May 16, 2007
Reported in the House on May 17, 2007
Without amendment and with the recommendation that the bill pass.
Received in the Senate on May 31, 2007
Referred to the Senate Appropriations Committee on May 31, 2007
Reported in the Senate on June 12, 2007
With the recommendation that the bill pass.
Signed by Gov. Jennifer Granholm on June 26, 2007