MichiganVotes.org: Michigan Laws, Bills and Votes
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using concise, plain and objective descriptions
Legislation watch
2016 House Bill 5847: Revise “Rainy Day Fund” rules
Introduced by Rep. Al Pscholka (R) on September 8, 2016
To revise details in the law governing a state “Rainy Day Fund” and that relate to deposit and withdrawal benchmarks and more. The bill would ban withdrawing money from the fund during a year when the aggregate personal income of residents has risen, allow larger withdrawals when incomes have not risen, raise the cap on how much the fund may hold and more. Official Text and Analysis.
Referred to the House Appropriations Committee on September 8, 2016
Reported in the House on September 21, 2016
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Received in the Senate on November 30, 2016
Referred to the House Appropriations Committee on November 30, 2016
Reported in the Senate on December 8, 2016
With the recommendation that the bill pass.