Introduced
by
To establish criteria for the allocation of some $2.3 billion worth of federally-subsidized or guaranteed bonds authorized for use in Michigan under the federal "stimulus" spending plan. Essentially, the federal government picks up 45 percent of the interest expense of local or state debt incurred under the program, or guarantees loans to private businesses selected by local government officials.
Referred to the Committee on Economic Development and Regulatory Reform
Reported without amendment
With the recommendation that the substitute (S-2) 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 as previously described.
The substitute passed by voice vote
Passed in the Senate 35 to 3 (details)
Referred to the Committee on Appropriations
Substitute offered
by
The substitute passed by voice vote
Passed in the House 76 to 29 (details)
To establish criteria for the allocation of some $2.3 billion worth of federally-subsidized or guaranteed bonds authorized for use in Michigan under the federal "stimulus" spending plan. Essentially, the federal government picks up 45 percent of the interest expense of local or state debt incurred under the program, or guarantees loans to private businesses selected by local government officials.
To concur with the House-passed version of the bill.
Passed in the Senate 32 to 2 (details)
