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Michigan Compiled Laws Complete Through PA 75 of 2018

Senate: Adjourned until Tuesday, April 10, 2018 10:00:00 AM

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Act 202 of 2017
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Act 202 of 2017

AN ACT to create the protecting local government retirement and benefits act; to provide the powers and duties of certain state and local agencies and officials; and to create a municipal stability board.

History: 2017, Act 202, Imd. Eff. Dec. 20, 2017

© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 38.2801SectionShort title.
Section 38.2802SectionLegislature findings and declarations.
Section 38.2803SectionDefinitions.
Section 38.2804SectionRetirement health benefit offered by local unit of government; requirements; "summary retiree health care report" defined.
Section 38.2805SectionState treasurer; establishment of uniform actuarial assumptions of retirement systems; evaluation system; review and oversight of underfunded local unit of government; determination; calculation of funded ratios by local governmental unit; report; posting on website.
Section 38.2806SectionUnderfunded status; waiver; duties of state treasurer if local unit of government not granted waiver.
Section 38.2807SectionMunicipal stability board; creation; powers, duties, and functions; membership; appointment by governor; qualifications; terms; vacancy; chairperson; quorum; meetings; bylaws; contract for professional services; travel and expenses; ethics policy; oath of office; "professional services" defined.
Section 38.2808SectionDevelopment of corrective action plan; list of best practices and strategies.
Section 38.2809SectionCorrective action plan; development and submission for approval.
Section 38.2810SectionCorrective action plan; review and approval by board; inclusion of corrective options and additional solutions; disapproval; notification and report; implementation of plan; monitor and certification of compliance; contents of plan.
Section 38.2812SectionBoard as state board; members as state officers; presumption of validity; court jurisdiction; department of treasury as party.
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