Michigan Laws 141.1561 – Adoption and implementation of 2-year budget
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Terms Used In Michigan Laws 141.1561
- Emergency manager: means an emergency manager appointed under section 9. See Michigan Laws 141.1542
- Local government: means a municipal government or a school district. See Michigan Laws 141.1542
- Receivership: means the process under this act by which a financial emergency is addressed through the appointment of an emergency manager. See Michigan Laws 141.1542
(1) Before the termination of receivership and the completion of the emergency manager‘s term, or if a transition advisory board is appointed under section 23, then before the transition advisory board is appointed, the emergency manager shall adopt and implement a 2-year budget, including all contractual and employment agreements, for the local government commencing with the termination of receivership.
(2) After the completion of the emergency manager’s term and the termination of receivership, the governing body of the local government shall not amend the 2-year budget adopted under subsection (1) without the approval of the state treasurer, and shall not revise any order or ordinance implemented by the emergency manager during his or her term prior to 1 year after the termination of receivership.