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BJH H04873'25_HB6144_INTR_1 xj3vzm
HOUSE BILL NO. 6144
A bill to amend 1855 PA 105, entitled
"An act to regulate the disposition of the surplus funds in the
state treasury; to provide for the deposit of surplus funds in
certain financial institutions; to lend surplus funds pursuant to
loan agreements secured by certain commercial, agricultural, or
industrial real and personal property; to authorize the loan of
surplus funds to certain municipalities; to authorize the
participation in certain loan programs; to authorize an
appropriation; and to prescribe the duties of certain state
agencies,"
(MCL 21.141 to 21.147) by adding section 2g.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
June 30, 2026, Introduced by Reps. Weiss, McFall, Glanville, Koleszar, Myers -Phillips,
Longjohn, Breen, Rheingans, Byrnes, Foreman, Miller, MacDonell, Conlin, Tsernoglou and
Dievendorf and referred to Committee on Appropriations.
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Final Page
BJH H04873'25_HB6144_INTR_1 xj3vzm
Sec. 2g. (1) Subject to subsection (2), each year, if the 1
general appropriations bills for the succeeding fiscal year are not 2
enacted into law before October 1, the state treasurer may loan, 3
without interest, surplus funds to a school district or 4
intermediate school district if both of the following conditions 5
are met: 6
(a) The loan amount does not exceed the amount that the school 7
district or intermediate school district received from the school 8
aid fund for the same month from the immediately preceding year. 9
(b) The loan is for a period not to exceed 1 year. 10
(2) Subsection (1) applies until the general appropriations 11
bills for the succeeding fiscal year are enacted into law. 12
(3) In addition to the conditions provided in subsection (1), 13
the state treasurer may prescribe additional terms of a loan issued 14
under this section. 15
(4) As used in this section: 16
(a) "Intermediate school district" means that term as defined 17
in section 4 of the revised school code, 1976 PA 451, MCL 380.4. 18
(b) "School district" means that term as defined in section 6 19
of the revised school code, 1976 PA 451, MCL 380.6. 20