Bill Text: MI HB4703 | 2017-2018 | 99th Legislature | Introduced

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Bill Title: School aid; supplemental; allocation to certain school districts to pay down debt; provide for. Amends sec. 11 of 1979 PA 94 (MCL 388.1611) & adds sec. 22m.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2017-06-07 - Bill Electronically Reproduced 06/06/2017 [HB4703 Detail]

Download: Michigan-2017-HB4703-Introduced.html

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HOUSE BILL No. 4703

 

 

June 6, 2017, Introduced by Reps. Jones, Peterson, Neeley, Robinson, Elder, Cochran, Hammoud, Dianda, Chirkun, Durhal, Pagan, Green, Phelps, Zemke, Liberati, Greig, Moss, Rabhi, LaGrand, Sneller, Gay-Dagnogo, Sabo, Hoadley, Ellison, Garrett and Kosowski and referred to the Committee on Appropriations.

 

     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 2016 PA 249,

 

and by adding section 22m.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 11. (1) For the fiscal year ending September 30, 2016,

 

there is appropriated for the public schools of this state and

 

certain other state purposes relating to education the sum of

 

$11,905,439,300.00 from the state school aid fund and the sum of

 

$55,100,000.00 from the general fund. For the fiscal year ending

 

September 30, 2017, there is appropriated for the public schools of

 

this state and certain other state purposes relating to education

 

the sum of $12,052,309,300.00 from the state school aid fund, the

 

sum of $218,900,000.00 $256,075,000.00 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

 

$100.00 from the water drinking water declaration of emergency

 

reserve fund created under section 901 of part 2 of article XXI of

 

2016 PA 268. In addition, all other available federal funds are

 

appropriated each fiscal year for the fiscal years year ending

 

September 30, 2016 and September 30, 2017.

 

     (2) The appropriations under this section shall be allocated

 

as provided in this article. Money appropriated under this section

 

from the general fund shall 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 state fiscal year are transferred to

 

the school aid stabilization fund created under section 11a.

 

     Sec. 22m. From the general fund money appropriated under

 

section 11, the following amounts are allocated for 2016-2017 to a

 

district that has been dissolved under section 12 of the revised

 

school code, MCL 380.12, but retains a limited separate identity

 

under that section for the limited purpose of the debt of the

 

school district and that levies 13 mills for satisfaction of debt

 

in the name of the dissolved school district:

 

     (a) An amount not to exceed $1,175,000.00 to be used only to

 

pay off the remaining bonded debt of the school district.

 

     (b) An amount not to exceed $36,000,000.00 to be used only to

 

pay off the remaining amount owed by the school district to the

school bond loan revolving fund created in section 16c of the

 

shared credit rating act, 1985 PA 227, MCL 141.1066c.