2013 Senate Bill 719 / 2014 Public Act 115

Allow renegotiation of state environmental cleanup and recreation loans

Introduced in the Senate

Dec. 10, 2013

Introduced by Sen. Darwin Booher (R-35)

To allow local governments with financial problems to negotiate more favorable terms on loans made to them by the state using money the state itself borrowed under the 1998 “Clean Michigan Initiative” ballot proposal, which authorized $675 million of new government debt (“bond sales”) for environmental cleanup and recreation projects.

Referred to the Committee on Natural Resources, Environment, and Great Lakes

Feb. 4, 2014

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Feb. 5, 2014

Substitute offered

The substitute passed by voice vote

Feb. 12, 2014

Passed in the Senate 38 to 0 (details)

Received in the House

Feb. 12, 2014

Referred to the Committee on Natural Resources

March 11, 2014

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

March 19, 2014

Substitute offered

The substitute passed by voice vote

March 20, 2014

Passed in the House 103 to 7 (details)

To allow local governments with financial problems to negotiate more favorable terms on loans made to them by the state using money the state itself borrowed under the 1998 “Clean Michigan Initiative” ballot proposal, which authorized $675 million of new government debt (“bond sales”) for environmental cleanup and recreation projects. They would not be allowed to negotiate a reduction the amount of the outstanding loan principal.

Received in the Senate

March 25, 2014

March 26, 2014

Passed in the Senate 35 to 0 (details)

Signed by Gov. Rick Snyder

April 7, 2014