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Senate Roll Call 193 on
2007 House Bill 4851: Use borrowed college grant money to pay for current spending

To give the Michigan higher education student loan authority the authority to transfer money to the Michigan merit award trust fund. Unlike money controlled by the authority directly, there is no restriction on the legislature using money in the merit award fund (which is a “trust” fund in name only) for any other purpose. The bill is part of an agreement to avoid spending cuts in the current fiscal year budget by borrowing up to $410 million, plus another $80 to $90 million from the student loan authority, which is itself borrowed money.

View the rest of House Bill 4851: History, Amendments & Comments 

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Senate Roll Call 193 on 2007 House Bill 4851

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