2009 Senate Bill 583 / Public Act 179

Allow community colleges to put money in CDs

Introduced in the Senate

May 19, 2009

Introduced by Sen. Tony Stamas (R-36)

To allow community colleges to invest surplus funds in certificates of deposit.

Referred to the Committee on Banking and Financial Institutions

June 2, 2009

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

June 4, 2009

Substitute offered

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

The substitute passed by voice vote

June 9, 2009

Passed in the Senate 37 to 0 (details)

Received in the House

June 9, 2009

Referred to the Committee on Banking and Financial Services

June 18, 2009

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Nov. 12, 2009

Passed in the House 101 to 0 (details)

To allow community colleges to invest surplus funds in certificates of deposit.

Signed by Gov. Jennifer Granholm

Dec. 15, 2009