A bill to amend 1964 PA 183, entitled “An act creating the state building authority with power to acquire, construct, furnish, equip, own, improve, enlarge, operate, mortgage, and maintain facilities for the use of the state or any of its agencies; to act as a developer or co-owner of facilities as a condominium project for the use of the state or any of its agencies; to authorize the execution of leases pertaining to those facilities by the building authority with the state or any of its agencies; to authorize the payment of true rentals by the state; to provide for the issuance of revenue obligations by the building authority to be paid from the true rentals to be paid by the state and other resources and security provided for and pledged by the building authority; to authorize the creation of funds; to authorize the conveyance of lands by the state or any of its agencies for the purposes authorized in this act; to authorize the appointment of a trustee for bondholders; to permit remedies for the benefit of parties in interest; to provide for other powers and duties of the authority; and to provide for other matters in relation to the authority and its obligations,” by amending section 8 (MCL 830.418), as amended by 2012 PA 519.
House Bill 4842 would amend 1964 PA 183, which regulates the State Building Authority, to eliminate the requirement that pools of obligations issued by the authority be fully payable to the creditor or creditors within five years.
Co-sponsored by Reps.
Referred to the Committee on Insurance and Financial Services
Referred to the Committee on Appropriations
Reported without amendment
Substitute H-1 offered
by
The substitute passed by voice vote
Passed in the House 83 to 22 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
Referred to the Committee on Finance, Insurance, and Consumer Protection
Reported without amendment
Referred to the Committee of the Whole
Reported without amendment
