This bill proposes the repeal of the Local Financial Stability and Choice Act, known as 2012 PA 436, which is codified in the Michigan Compiled Laws from sections 141.1541 to 141.1575. The act was originally established to provide mechanisms for local governments in Michigan to maintain financial stability and to offer choices in governance during financial distress.

The bill includes a clear directive stating that the Local Financial Stability and Choice Act is to be repealed, effectively removing the legal framework that supported its provisions. The language inserted at the beginning of the bill emphasizes the enactment by the people of Michigan, indicating a legislative intent to dismantle the existing law.

Statutes affected:
House Introduced Bill: 141.1541, 141.1575