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Sub HB 4850 - Tobacco Fund Bonds - Michigan Key Vote

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Title: Tobacco Fund Bonds

Vote Smart's Synopsis:

Vote to pass a bill that authorizes the increased sale of bonds on the state’s tobacco fund and authorizes the proceeds to be used by the state Treasurer.

Highlights:

--Authorizes an increase from $400 million to $815 million in bonds to be sold on the tobacco fund (Sec. 8):

    -$400 million to the Michigan trust fund. -$207.8 million to the state school aid fund. -The remainder to the general fund.

Full Bill Text

See How Your Politicians Voted

Title: Tobacco Fund Bonds

Vote Smart's Synopsis:

Vote to pass a bill that authorizes the increased sale of bonds on the state’s tobacco fund and authorizes the proceeds to be used by the state Treasurer.

Highlights:

- Authorizes an increase from $400 million to $810 million in bonds to be sold on the tobacco fund (Sec. 8):

    -$400 million to the Michigan trust fund. -$202.8 million to the state school aid fund. -The remainder to the general fund.

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

Full Bill Text

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