Introduced by Sen. Jim Stamas R-Midland on December 3, 2020
To authorize borrowing $600 million to resolve and settle claims for the Flint water contamination litigation, as part of a settlement agreement. The money would pass through the Michigan Strategic Fund, which is generally used to finance corporate welfare subsidies, and has authority to borrow. Senate Bill 1252 would create a state Flint Settlement Trust Fund and establish as “the intent of the legislature” appropriating $35 million for it each year through the 2050-51 fiscal year. This bill reimburses the state for an initial $5 million payment. Official Text and Analysis.