To essentially eliminate current 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).   Official Text and Analysis.

To authorize an immediate $300 million loan to the Detroit school district to cover debt incurred through over-spending in successive budgets. Also, to greatly increase the current caps on the amount the state can lend for “financial emergency” loans to municipalities and public school districts that incur overspending deficits. The bill is considered a "down payment" on an expected $515 million bailout and another $202 million for "transition costs." See also Senate Bill 710.

With the recommendation that the substitute (H-2) be adopted and that the bill then pass.

To authorize lending the Detroit school district $33 million to cover salaries in the event an expected bailout package does not go into effect before the district runs out of money.

To authorize an immediate $33 million loan to the Detroit school district to cover debt incurred through over-spending in successive budgets. Also, to greatly increase the current caps on the amount the state can lend for “financial emergency” loans to municipalities and public school districts that incur overspending deficits. The bill is considered a "down payment" on an expected $500 million bailout of the district.

To reconsider the vote by which the House passed the bill.

To adopt a version that delivers $150 million for Detroit school "transition costs," as agreed to by the House.

To give the Detroit school district $150 million for "transition costs" as it executes the new governance structure authorized by House Bill 5384, of which no more than $25 million can be spent on deferred maintenance.

To lend the Detroit school district another $300 million on top of the other money in the bailout package.