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2012 House Bill 5567: Increase allowable local government and school “deficit spending” debt

Public Act 285 of 2012

Introduced by Rep. Al Pscholka R-Stevensville on April 24, 2012
To allow school districts to pledge future property tax millage revenue to repay the debt to the state proposed by House Bill 5566, which authorizes up to $20 million in borrowing to cover deficit spending that exceeds their current revenues.   Official Text and Analysis.
Referred to the House Local, Intergovernmental, and Regional Affairs Committee on April 24, 2012
Reported in the House on May 30, 2012
Without amendment and with the recommendation that the bill pass.
Received in the Senate on June 12, 2012
Referred to the Senate Appropriations Committee on June 12, 2012
Reported in the Senate on July 18, 2012
With the recommendation that the substitute (S-2) be adopted and that the bill then pass.
Substitute offered in the Senate on July 18, 2012
The substitute passed by voice vote in the Senate on July 18, 2012
Motion by Sen. Tupac Hunter D-Detroit on July 18, 2012
To give the bill immediate effect.
The motion passed 29 to 7 in the Senate on July 18, 2012.
    See Who Voted "Yes" and Who Voted "No".
Received in the House on July 18, 2012
To concur with the Senate-passed version of the bill, which authorizes slightly less new state debt.
Signed by Gov. Rick Snyder on August 1, 2012