MCL - 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
| 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. |