Introduced
by
To essentially eliminate current statutory caps on the amount the state can lend for “financial emergency” loans to public school districts that spend more than they take in. This is to accommodate Gov. Rick Snyder’s proposal to bail out the insolvent Detroit school district by dividing it into two entities, one to run the schools and the other to service the district’s debt (see Senate Bill 710 and House Bill 5384).
Referred to the Committee on Government Operations
Passed in the Senate 21 to 16 (details)
Referred to the Committee on Appropriations
