Introduced
by
To exempt borrowing of up to $50 million by Lansing to aquire a new performing arts facility from a law that caps the maximum term of such debt, and instead allows a 40 year term. The bill would also exempt the refinancing of certain past borrowing by Lansing from provisions of a <a href="http://www.michiganvotes.org/2001-SB-29">2001 law</a> that prohibits these municipal refinancings to instances where they actually save taxpayer dollars, rather than just lengthening the repayment period.
Referred to the Committee on Appropriations
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
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
Passed in the House 94 to 11 (details)
Substitute offered
To replace the previous version of the bill with one that does not exempt the proposed Lansing performing arts center debt from existing state regulations on municipal borrowing.
The substitute passed by voice vote
Passed in the Senate 38 to 0 (details)
To exempt the refinancing of certain past borrowing by Lansing from provisions of a <a href="http://www.michiganvotes.org/2001-SB-29">2001 law</a> that prohibits these municipal refinancings except where they actually save taxpayer dollars, rather than just lengthening the repayment period.
Passed in the House 83 to 18 (details)
To concur with the Senate-passed version of the bill.
