Plain English Breakdown
The official source material does not specify how local governments will manage financial stability without the previous act or provide new laws to replace those being repealed.
Repealing the Local Financial Stability and Choice Act
This law removes a previous act that allowed state intervention in local government finances.
What This Bill Does
- Removes the Local Financial Stability and Choice Act from the laws of Michigan.
- Repeals specific sections of law (MCL 141.1541 - 141.1575) related to local government financial stability.
Who It Names or Affects
- Local governments in Michigan that were previously subject to state intervention due to financial troubles.
- State agencies responsible for overseeing financially troubled local governments.
Terms To Know
- Repeal
- To remove or cancel a law or part of a law.
- Local government
- The level of government that deals with city, township, village, and county issues.
Limits and Unknowns
- It is unclear how local governments will manage financial stability without the previous act.
- This bill does not provide new laws to replace those being repealed.