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Michigan Legislature Approves Emergency Financial Manager Reform
by Rob Stipek on Mar 16, 2011
On Tuesday March 15th, the Michigan House of Representatives officially passed emergency financial managers reform. The reform comes as part of Governor Snyder’s plan to get the state of Michigan back on solid financial ground. Now that the bill has passed through the hurdles of the Senate and the House, it is expected that Governor Snyder will sign it into law.
The passing of the Emergency Financial Managers Reform by the Michigan House of Representatives grants board authority to a governor appointed official whose role is to assist school districts and municipalities get their finances under control. This reform grants powers to Emergency Financial Managers that allow them the ability to toss out union contracts, fire officials, and dissolve elected councils and school boards in communities operating at a deficit. Governor Snyder’s administration feels that the law will encourage local governments and school districts to fix their own problems.
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