Bill Text: MI HB4424 | 2023-2024 | 102nd Legislature | Introduced
Bill Title: School aid: supplemental; funding for the elimination of debt for certain districts; provide for. Amends sec. 11 of 1979 PA 94 (MCL 388.1611) & adds sec. 22e.
Spectrum: Partisan Bill (Democrat 18-0)
Status: (Introduced) 2023-04-19 - Bill Electronically Reproduced 04/13/2023 [HB4424 Detail]
Download: Michigan-2023-HB4424-Introduced.html
HOUSE BILL NO. 4424
A bill to amend 1979 PA 94, entitled
"The state school aid act of 1979,"
by amending section 11 (MCL 388.1611), as amended by 2022 PA 212, and by adding section 22e.
the people of the state of michigan enact:
Sec. 11. (1) For the fiscal year ending September 30, 2023, there is appropriated for the public schools of this state and certain other state purposes relating to education the sum of $16,754,072,900.00 $16,767,072,900.00 from the state school aid fund, the sum of $124,200,000.00 from the general fund, an amount not to exceed $72,000,000.00 from the community district education trust fund created under section 12 of the Michigan trust fund act, 2000 PA 489, MCL 12.262, and an amount not to exceed $140,400,000.00 from the MPSERS retirement obligation reform reserve fund created under section 147b. In addition, all available federal funds are only appropriated as allocated in this article for the fiscal year ending September 30, 2023.
(2) The appropriations under this section are allocated as provided in this article. Money appropriated under this section from the general fund must be expended to fund the purposes of this article before the expenditure of money appropriated under this section from the state school aid fund.
(3) Any general fund allocations under this article that are not expended by the end of the fiscal year are transferred to the school aid stabilization fund created under section 11a.
Sec. 22e. (1) From the state school aid fund money appropriated under section 11, there is allocated for 2022-2023 an amount not to exceed $13,000,000.00 to a qualifying intermediate district for payment of the accrued school bond loan fund interest of a dissolved school district. For purposes of this subsection, an intermediate district is a qualifying intermediate district if it is required to perform the functions and satisfy the responsibilities of a dissolved school district under section 12(3) of the revised school code, MCL 380.12. The department of treasury shall determine which qualifying intermediate district is eligible for payments under this section based on the ability of the dissolved school district to repay the balance of accrued school bond loan fund interest.
(2) Notwithstanding section 17b, the department shall make payments to a qualifying intermediate district under this section on a schedule determined by the department.
(3) As used in this section, "dissolved school district" means a school district that has been declared dissolved under section 12 of the revised school code, MCL 380.12.
