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2013 House Bill 4368: Expand school “sinking fund” uses
Introduced by Rep. Adam Zemke D-Ann Arbor on March 5, 2013
To allow school districts to use “sinking fund” taxes for “school security equipment.” Under current law, sinking funds are permanent funds that may be used only for infrastructure-related spending including the purchase of land or construction and (major) repair of school buildings. Schools are allowed to levy up to five mills for sinking funds.   Official Text and Analysis.
Referred to the House Tax Policy Committee on March 5, 2013