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2013 Senate Bill 719: Allow renegotiation of state environmental cleanup and recreation loans

Public Act 115 of 2014

  1. Introduced by Sen. Darwin Booher (R) on December 10, 2013, to allow local governments with financial problems to negotiate more favorable terms on loans made to them by the state using money the state itself borrowed under the 1998 “Clean Michigan Initiative” ballot proposal, which authorized $675 million of new government debt (“bond sales”) for environmental cleanup and recreation projects.
    • Referred to the Senate Natural Resources, Environment & Great Lakes Committee on December 10, 2013.
      • Reported in the Senate on February 4, 2014, with the recommendation that the substitute (S-1) be adopted and that the bill then pass.
    • Substitute offered in the Senate on February 5, 2014. The substitute passed by voice vote in the Senate on February 5, 2014.
  2. Passed 38 to 0 in the Senate on February 12, 2014.
    Who Voted "Yes" and Who Voted "No"

  3. Received in the House on February 12, 2014.
    • Referred to the House Natural Resources Committee on February 12, 2014.
      • Reported in the House on March 11, 2014, with the recommendation that the substitute (H-1) be adopted and that the bill then pass.
    • Substitute offered in the House on March 19, 2014. The substitute passed by voice vote in the House on March 19, 2014.
  4. Passed 103 to 7 in the House on March 20, 2014, to allow local governments with financial problems to negotiate more favorable terms on loans made to them by the state using money the state itself borrowed under the 1998 “Clean Michigan Initiative” ballot proposal, which authorized $675 million of new government debt (“bond sales”) for environmental cleanup and recreation projects. They would not be allowed to negotiate a reduction the amount of the outstanding loan principal.
    Who Voted "Yes" and Who Voted "No"

  5. Received in the Senate on March 25, 2014.
  6. Passed 35 to 0 in the Senate on March 26, 2014.
    Who Voted "Yes" and Who Voted "No"

  7. Signed by Gov. Rick Snyder on April 7, 2014.

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