MichiganBill would define terms used in Michigan tobacco settlement finance law
Michigan's tobacco settlement finance law would use definitions for revenue, bonds, and related agreements, but this bill depends on a separate bill becoming law.
What it does
The bill sets out terms for bonds, tobacco settlement revenue, related agreements, and the state treasurer's designee. It would take effect only if a separate bill becomes law.
Argument forClear definitions of tobacco revenue, sale agreements, and the treasurer's designee could help the state and the authority manage their agreements.
Argument againstIf the revised definitions leave unclear which bonds or agreements count as active, the authority and its partners could have trouble determining which obligations remain.
More detail
The bill would set out definitions used in the tobacco settlement finance law. The definitions cover bonds and related agreements, tobacco settlement revenue, and officials and parties named in the act. The act would take effect only if House Bill 6347 of the 103rd Legislature is enacted into law. The act would take effect only if House Bill 6347 of the 103rd Legislature is enacted into law.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 29bill electronically reproduced 09/24/2026Latest
- Sep 24referred to Committee on FinanceMinor
- Sep 24read a first timeMinor
- Sep 24introduced by Representative Rep. Joseph AragonaIntroduced
Government & Ethics