Introduced
by
To clarify that the $415 million borrowed against future tobacco lawsuit settlement proceeds as part of the <a href="http://www.michiganvotes.org/2007-SB-436">deal</a> to borrow and shift funds to avoid spending cuts in the Fiscal Year 2006-2007 budget, is not to be credited to the 21st Century Jobs Trust Fund, but to cover the other spending enabled by the deal. The bill was introduced because the legislative "vehicle" for the deficit financing of current year spending was a bill amending the 2006 law authorizing $400 million in borrowing for the the “<a href="http://www.michiganvotes.org/2005-HB-5047">21st Century Jobs Fund</a>” business subsidy program.
Referred to the Committee on Appropriations
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 78 to 28 (details)
Referred to the Committee on Appropriations
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that also authorizes transferring $50 million from the “<a href="http://www.michiganvotes.org/2005-HB-5047">21st Century Jobs Fund</a>” business subsidy program to the general fund as part of the current year budget deal.
The substitute passed by voice vote
Amendment offered
by
To require that in 2016, $30 million be transferred from the “<a href="http://www.michiganvotes.org/2005-HB-5047">21st Century Jobs Fund</a>” business subsidy program to the general fund.
The amendment failed 18 to 19 (details)
Passed in the Senate 20 to 17 (details)
To clarify that the $415 million borrowed against future tobacco lawsuit settlement proceeds as part of the <a href="http://www.michiganvotes.org/2007-SB-436">deal</a> to borrow and shift funds to avoid spending cuts in the Fiscal Year 2006-2007 budget, is not to be credited to the 21st Century Jobs Trust Fund, but to cover the other spending enabled by the deal. The bill was introduced because the legislative "vehicle" for the deficit financing of current year spending was a bill amending the 2006 law authorizing $400 million in borrowing for the the “<a href="http://www.michiganvotes.org/2005-HB-5047">21st Century Jobs Fund</a>” business subsidy program. The bill also authorizes transferring $50 million from that subsidy fund to the general fund as part of the current year budget deal.
Amendment offered
by
To require that in 2016, $30 million be transferred from the “<a href="http://www.michiganvotes.org/2005-HB-5047">21st Century Jobs Fund</a>” business subsidy program to the general fund.
The amendment passed by voice vote
Passed in the House 74 to 33 (details)
To clarify that the $415 million borrowed against future tobacco lawsuit settlement proceeds as part of the <a href="http://www.michiganvotes.org/2007-SB-436">deal</a> to borrow and shift funds to avoid spending cuts in the Fiscal Year 2006-2007 budget, is not to be credited to the 21st Century Jobs Trust Fund, but to cover the other spending enabled by the deal. The bill was introduced because the legislative "vehicle" for the deficit financing of current year spending was a bill amending the 2006 law authorizing $400 million in borrowing for the the “<a href="http://www.michiganvotes.org/2005-HB-5047">21st Century Jobs Fund</a>” business subsidy program. The bill also authorizes transferring $50 million from that subsidy fund to the general fund as part of the current year budget deal, and places in statute that $30 million be returned in 2016 (assuming a succeeding legislature does not change that).
Passed in the Senate 31 to 1 (details)
