Introduced by Rep. Cindy Denby R-Fowlerville on November 8, 2012
To extend through 2015 an exception to a 2001 law that banned local governments from refinancing their bond debt unless it actually saves taxpayer dollars (rather than just reducing periodic debt service payments by extending maturities). The exception allows locals to do this after following certain procedures, including a public hearing and getting permission from the state. Official Text and Analysis.
Referred to the House Local, Intergovernmental, and Regional Affairs Committee on November 8, 2012