LIBRARY FINANCING - H.B. 5851 & 5852: FLOOR ANALYSIS
House Bills 5851 and 5852 (as reported without amendment)
Sponsor: Representative Patricia Birkholz (H.B. 5851)
Representative Lauren Hager (H.B. 5852)
House Committee: Tax Policy
Senate Committee: Finance
CONTENT
House Bill 5851 would repeal Public Act 305 of 1919, which allows cities, villages, and school districts to issue bonds to establish and maintain free public libraries. (Under the Act, a city, village, or school district may borrow up to .25% of the assessed valuation of the city, village, or school district to provide for a library.)
House Bill 5852 would amend the District Library Financing Act to add references to the Revised Municipal Finance Act, and eliminate a provision that allows a district library to issue refunding bonds without a vote of the district's electors.
MCL 397.241-397.246 (H.B. 5851) - Legislative Analyst: George Towne
397.284 et al. (H.B. 5852)
FISCAL IMPACT
The bills would have no fiscal impact on State or local government.
Date Completed: 5-1-02 - Fiscal Analyst: David ZinFloor\hb5851 - Bill Analysis @ http://www.senate.state.mi.us/sfa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.