SB-1157, As Passed House, April 9, 2008
February 28, 2008, Introduced by Senator SWITALSKI and referred to the Committee on Appropriations.
A bill to amend 1960 PA 77, entitled
"An act to create the Michigan higher education assistance
authority and to prescribe its powers and duties; to authorize
persons, corporations, and associations to make gifts to the
authority; to prescribe the powers and duties of certain state
officials; to authorize, ratify, and confirm certain guarantees of
students' loans and authorize reguarantees; to authorize, ratify,
and confirm certain guarantees of loans made to parents of
students; to validate certain prior appropriations; and to
authorize the transfer of certain appropriations to be transferred
to and administered by the authority,"
(MCL 390.951 to 390.961) by adding section 7b; and to repeal acts
and parts of acts.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 7b. (1) The authority may use money from the Michigan
guaranty agency's operating fund for the state competitive
scholarship program described in 1964 PA 208, MCL 390.971 to
390.981, if all of the following are met:
(a) The money is used by the authority only in the state
fiscal year ending September 30, 2008.
(b) Federal law does not prohibit use of the money used from
the Michigan guaranty agency's operating fund in the manner
described in this subsection.
(2) The authority described in this section is in addition to
the powers described in section 7.
Enacting section 1. Section 7b of 1960 PA 77, MCL 390.957b, is
repealed effective October 1, 2008.