To authorize withdrawing money from the state rainy day fund (“budget stabilization fund”) for “any purpose” the legislature may provide, which in the current context means a state grant of $195 million for Detroit. House Bill 5574 would appropriate the money. This is part of a legislative package consisting of House Bills 5566 to 5575 that are related to the Detroit bankruptcy and the proposed state grant. Official Text and Analysis.
Referred to the House Detroit's Recovery and Michigan's Future Committee on May 8, 2014
Reported in the House on May 21, 2014
Without amendment and with the recommendation that the bill pass.