Michigan Laws 388.1747f – Payments to districts and intermediate districts that are participating entities of MPSERS
Current as of: 2024 | Check for updates
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Terms Used In Michigan Laws 388.1747f
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) From the state school aid fund money appropriated in section 11, there is allocated for 2023-2024 only $48,500,000.00 for payments to districts and intermediate districts that are participating entities of the Michigan public school employees’ retirement system. The amount allocated to each participating entity under this subsection must be based on each participating entity’s proportion of the total covered payroll for the immediately preceding fiscal year.
(2) As used in this section, “participating entity” means a district or intermediate district that is a reporting unit of the Michigan public school employees’ retirement system under the public school employees retirement act of 1979, 1980 PA 300, MCL 38.1301 to 38.1437, and that reports employees to the Michigan public school employees’ retirement system for the applicable fiscal year.