Introduced
by
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 Committee on Natural Resources, Environment, and Great Lakes
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
The substitute passed by voice vote
Passed in the Senate 38 to 0 (details)
Referred to the Committee on Natural Resources
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
The substitute passed by voice vote
Passed in the House 103 to 7 (details)
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.
Passed in the Senate 35 to 0 (details)
