COMMUNITY COLLEGE INVESTMENTS                                                              S.B. 1088:

                                                                                  SUMMARY OF INTRODUCED BILL

                                                                                                         IN COMMITTEE

Senate Bill 1088 (as introduced 9-23-14)

Sponsor:  Senator Darwin Booher

Committee:  Appropriations

Date Completed:  10-1-14

CONTENT

Senate Bill 1088 would amend the Community College Act to expand investment options for community colleges debt retirement funds, building and site funds, building and site sinking funds, or general funds of the community college district. The bill would include investments in obligations of any of the State's political subdivisions that at the time of purchase are rated as investment grade by at least one standard rating service.

MCL 389.142                                                                                                           

FISCAL IMPACT

The bill would have an indeterminate impact on community college districts, which would depend on whether these expanded investment options resulted in a higher return for colleges. 

                                                                                     Fiscal Analyst:  Bill Bowerman

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.