Allows the state treasurer to provide interest-free loans to school districts and intermediate school districts from surplus funds if certain.

This bill amends the Michigan School Aid Fund to allow the state treasurer to provide interest-free loans to school districts and intermediate school districts from the state's surplus funds if the general appropriations bills for the succeeding fiscal year are not enacted into law before October 1. The loan amount cannot exceed the amount the school district or intermediate school district received from the school aid fund for the same month from the immediately preceding year. The loan period is limited to one year. The state treasurer may also set additional terms for the loan.

Allows the state treasurer to provide interest-free loans to school districts and intermediate school districts from surplus funds if certain.

This bill amends the Michigan School Aid Fund to allow the state treasurer to provide interest-free loans to school districts and intermediate school districts from the state's surplus funds if the general appropriations bills for the succeeding fiscal year are not enacted into law before October 1. The loan amount cannot exceed the amount the school district or intermediate school district received from the school aid fund for the same month from the immediately preceding year. The loan period is limited to one year. The state treasurer may also set additional terms for the loan.