2001 House Bill 4384 / Public Act 127

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Introduced in the House

Feb. 28, 2001

Introduced by Rep. Wayne Kuipers (R-90)

To allow intermediate school districts to place the district's funds - debt retirement funds, building and site funds, and general funds - into mutual funds if the mutual funds invest in the same financial instruments that the district may invest in directly. Currently, local school districts are permitted to do so, but not intermediate school districts.

Referred to the Committee on Education

March 15, 2001

Passed in the House 101 to 0 (details)

To allowing intermediate school districts to invest the district's funds - debt retirement funds, building and site funds, and general funds - into mutual funds. Currently, local school districts are permitted to do so, but not intermediate school districts.

Received in the Senate

March 15, 2001

Oct. 4, 2001

Passed in the Senate 36 to 0 (details)

To allow intermediate school districts to place the district's funds - debt retirement funds, building and site funds, and general funds - into mutual funds if the mutual funds invest in the same financial instruments that the district may invest in directly. Currently, local school districts are permitted to do so, but not intermediate school districts.

Received in the House

Oct. 4, 2001

Signed by Gov. John Engler

Oct. 11, 2001