MCL - Act 202 of 2017


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

The People of the State of Michigan enact:
Document Type Description
Section 38.2801 Section Short title.
Section 38.2802 Section Legislature findings and declarations.
Section 38.2803 Section Definitions.
Section 38.2804 Section Retirement health benefit offered by local unit of government; requirements; "summary retiree health care report" defined.
Section 38.2805 Section State 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 38.2806 Section Underfunded status; waiver; duties of state treasurer if local unit of government not granted waiver.
Section 38.2807 Section Municipal 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 38.2808 Section Development of corrective action plan; list of best practices and strategies.
Section 38.2809 Section Corrective action plan; development and submission for approval.
Section 38.2810 Section Corrective 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 38.2812 Section Board as state board; members as state officers; presumption of validity; court jurisdiction; department of treasury as party.