    {"id":1320,"date":"2012-06-12T11:20:00","date_gmt":"2012-06-12T11:20:00","guid":{"rendered":"\/advocacy\/inside208\/post\/Municipal-Loan-Bills-pass-House.aspx"},"modified":"2012-06-12T11:20:00","modified_gmt":"2012-06-12T11:20:00","slug":"municipal-loan-bills-pass-house","status":"publish","type":"post","link":"https:\/\/mml.org\/inside208\/2012\/06\/12\/municipal-loan-bills-pass-house\/","title":{"rendered":"Municipal Loan Bills pass House"},"content":{"rendered":"<p>Last Thursday the House passed House  Bills 5566-5570, a package that amends the Emergency Municipal Loan Act  to include school districts and amend the criteria for qualifying.<\/p>\n<p>The current statute does not allow school districts to qualify for  emergency loans. The legislation allows school districts to qualify.<\/p>\n<p>In addition it requires that a municipality have levied the maximum  number of mills it is authorized to levy as approved by the voters and  also one of the following new criteria: 1) have one or more delinquent  special assessments; 2) outstanding bonds, etc issued in anticipation of  a contract with another local unit that has one or more delinquent  special assessments; 3) be in receivorship subject to PA 4of 2011; or 4)  a financial review by the Department of Treasury has indicated a  financial emergency exists.<\/p>\n<p>The new language allows a total of $100 million to be allocated over  six years (the provision sunsets on September 30, 2018). A maximum of  $20 million may be given to any one municipality or school district. The  Department of Treasury must wait 30 days after this legislation is  signed to authorize a new loan.<\/p>\n<p>One amendment added on the House floor would prohibit a community from opting out under PA 152 if they want to be considered for a municipal loan. We&#8217;re working to have this language removed in the Senate.<\/p>\n<p><em>Samantha Harkins works for the&nbsp;Michigan Municipal League handling                  municipal services and energy and technology issues.&nbsp;  She   can    be         reached   at 517-908-0306 or email  at <a href=\"mailto:sharkins@mml.org\">sharkins@mml.org<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last Thursday the House passed House Bills 5566-5570, a package that amends the Emergency Municipal Loan Act to include school districts and amend the criteria for qualifying. The current statute does not allow school districts to qualify for emergency loans. The legislation allows school districts to qualify. In addition it  [&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[22,27],"tags":[],"class_list":["post-1320","post","type-post","status-publish","format-standard","hentry","category-legislative-link-articles","category-municipal-services","mml-onemagnify-plugin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Municipal Loan Bills pass House - Inside 208<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mml.org\/inside208\/2012\/06\/12\/municipal-loan-bills-pass-house\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Municipal Loan Bills pass House - Inside 208\" \/>\n<meta property=\"og:description\" content=\"Last Thursday the House passed House Bills 5566-5570, a package that amends the Emergency Municipal Loan Act to include school districts and amend the criteria for qualifying. 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