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2015 House Bill 4331: Increase municipal and school “emergency loan” funding

Public Act 115 of 2015

Introduced by Rep. Bradford Jacobsen (R) on March 10, 2015
To increase from $50 million to $100 million the amount allocated through 2018 for “financial emergency” loans from the state to public school districts, and increase from $35 million to $85 million the amount of such loans to cities, townships, villages, and counties.   Official Text and Analysis.
Referred to the House Financial Liability Reform Committee on March 10, 2015
Reported in the House on March 25, 2015
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Amendment offered by Rep. Robert Wittenberg (D) on April 23, 2015
To remove an effective date starting 90 days after the bill is enacted.
The amendment failed by voice vote in the House on April 23, 2015
Amendment offered by Rep. Patrick Somerville (R) on April 23, 2015
To prohibit state loans authorized by this particular law from going to the Detroit School District.
The amendment passed by voice vote in the House on April 23, 2015
Amendment offered by Rep. Patrick Somerville (R) on April 23, 2015
To remove an effective date starting 90 days after the bill is enacted.
The amendment passed by voice vote in the House on April 23, 2015
Amendment offered by Rep. Patrick Somerville (R) on April 23, 2015
To reduce the proposed loan caps to $48 million for local governments and $70 million for school districts.
The amendment passed by voice vote in the House on April 23, 2015
Amendment offered by Rep. Patrick Somerville (R) on April 23, 2015
To "dock" state school aid or other payments to a school district or local government that becomes delinquent repaying loans authorized by this law, in an amount equal to the delinquent interest and 5 percent of the loan principle.
The amendment passed by voice vote in the House on April 23, 2015
To increase from $50 million to $70 million the amount allocated through 2018 for “financial emergency” loans from the state to public school districts, and increase from $35 million to $48 million the amount of such loans to cities, townships, villages, and counties. The bill would also place minimum interest rates and/or durations on these loans, and give the state to penalize borrowers for missing payments. The bill is linked to House Bills 4225 and 4226, which are designed to create an overspending public school “early warning system”.
Received in the Senate on April 28, 2015
Referred to the Senate Local Government Committee on April 28, 2015
Reported in the Senate on June 10, 2015
With the recommendation that the bill pass.
Amendment offered by Sen. Coleman Young, II (D) on June 30, 2015
To remove a provision prohibiting loans authorized by this particular law to the Detroit school district.
The amendment failed by voice vote in the Senate on June 30, 2015
Signed by Gov. Rick Snyder on July 7, 2015

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