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Thursday, April 5, 2012

Education and Senate Bill 770

Recently, the Senate Appropriations Committee took testimony of Senate Bills 770, 771, 772 and 870. For those in the K12 industry, like TowerPinkster, these bills are being closely followed as the result can affect funding for Michigan schools.

More than 130 school districts use the current Michigan funding infrastructure, which keeps millages at an affordable level for voters. Additionally, more than 300 districts use the funding to qualify their projects so they can borrow at the state-preferred Bond rate. These districts pay-off the loans, with interest.

Senate Bills 770, 771, 772 and 870 may effectively end state assistance for school infrastructure. For more information about these bills, please see the following links:

• Senate Bill 770 (and Senate Fiscal Agency Analysis)