2005 House Bill 4308 ↩

Senate Roll Call 58: Passed

To adopt a bill that embodies an agreement with Gov. Jennifer Granholm on an <a href="http://mi.gov/gov/0,1607,7-168-21975-113588--,00.html">Executive Order</a> making $295 million in current-year general fund spending cuts due to lower-than-expected tax revenues. It appropriates $684.5 million in total spending, of which $365.6 million is federal, $239.1 million is state "restricted" fund, and $39.9 million is state general fund money. This bill and Senate Bill 235 authorize new state borrowing of some $300 million (see Senate substitute for debt details). This bill eliminates a $30 million higher education operations spending cut ordered by the governor if it turns out that sufficient tax revenue is collected later in the year. See House Fiscal Agency <a href="http://www.legislature.mi.gov/documents/2005-2006/billanalysis/house/pdf/2005-HLA-4308-5.pdf">analysis</a> for spending details.