2015 House Bill 4331 ↩

Senate Roll Call 339: Passed

To increase from $50 million to $70 million the amount allocated through 2018 for “financial emergency” loans from the state to public school districts, and increase from $35 million to $48 million the amount of such loans to cities, townships, villages, and counties. The bill would also place minimum interest rates and/or durations on these loans, and give the state to penalize borrowers for missing payments. The bill is linked to House Bills 4225 and 4226, which are designed to create an overspending public school “early warning system”.