The bill amends the State School Aid Act of 1979, focusing on appropriations for public schools and community colleges for the fiscal year ending September 30, 2026. It significantly reduces the appropriations, allocating only $100 from various funds, in contrast to previous amounts of $17,769,551,300 for public schools and $462,220,800 for community colleges. The bill mandates that the state treasurer make payments to districts and intermediate districts according to a defined schedule, with provisions for adjustments in payments due to changes in law or computation errors. It also ensures timely distribution of funds and stipulates that any unspent general fund allocations be transferred to the school aid stabilization fund.

In addition, the bill appropriates funds for higher education in Michigan for the fiscal year 2024-2025, including $350,000 for internet accessibility improvements at Kalamazoo Valley Community College. It modifies the distribution of funds to community colleges, changing the fiscal year end to June 30, 2026, and specifies monthly payments starting October 16, 2025. The bill outlines appropriations for public universities totaling $2,324,292,600, with specific allocations for student financial aid and initiatives. It also includes one-time appropriations for programs like the Michigan Transfer Pathways program and a FAFSA completion incentive, while ensuring that funds are distributed appropriately and utilized effectively for educational purposes.

Statutes affected:
Senate Introduced Bill: 388.1611