2009 House Bill 4397 / Public Act 22

Allow school districts to put money in CDs

Introduced in the House

Feb. 24, 2009

Introduced by Rep. Jeff Mayes (D-96)

To allow school districts to invest in credit union certificates of deposit.

Referred to the Committee on Banking and Financial Services

March 12, 2009

Reported without amendment

Without amendment and with the recommendation that the bill pass.

March 17, 2009

Passed in the House 108 to 0 (details)

Received in the Senate

March 18, 2009

Referred to the Committee on Banking and Financial Institutions

April 1, 2009

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Substitute offered

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

The substitute passed by voice vote

Passed in the Senate 37 to 0 (details)

To allow school districts to invest in credit union certificates of deposit.

Received in the House

April 1, 2009

April 2, 2009

Passed in the House 110 to 0 (details)

Signed by Gov. Jennifer Granholm

May 5, 2009