Exempts certain loans from the definition of municipal security under Michigan's revised municipal finance act.

This bill amends the revised municipal finance act to exclude specific types of loans from the definition of municipal security. These include qualified agricultural loans, mortgage-secured real property loans, state infrastructure bank loans, and safeguarding tomorrow revolving loan fund loans. The changes only take effect if Senate Bill No. ____ (request no. S06520'26) or House Bill No. 5964 (request no. H06520'26) of the 103rd Legislature is enacted into law.

Exempts certain loans from the definition of municipal security under Michigan's revised municipal finance act.

This bill amends the revised municipal finance act to exclude specific types of loans from the definition of municipal security. These include qualified agricultural loans, mortgage-secured real property loans, state infrastructure bank loans, and safeguarding tomorrow revolving loan fund loans. The changes only take effect if Senate Bill No. ____ (request no. S06520'26) or House Bill No. 5964 (request no. H06520'26) of the 103rd Legislature is enacted into law.