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2015 Senate Bill 160: Revise Detroit debt-financed spending detail

Public Act 17 of 2015

Introduced by Sen. Darwin Booher (R) on February 25, 2015
To revise details of a 2011 law that expanded allowable debt-financed deficit spending by Detroit, to clarify a provision allowing some city revenue to held in trust for certain creditors. Specifically, it strengthen the legal claims of certain lenders on future city revenue.   Official Text and Analysis.
Referred to the Senate Banking and Financial Institutions Committee on February 25, 2015
Reported in the Senate on March 5, 2015
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Received in the House on March 18, 2015
Referred to the House Government Operations Committee on March 18, 2015
Reported in the House on March 26, 2015
Without amendment and with the recommendation that the bill pass.
Signed by Gov. Rick Snyder on April 22, 2015

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