The bill amends the State School Aid Act of 1979, specifically sections 236 and 241, to update the appropriations for higher education for the fiscal year ending September 30, 2027. It includes a gross appropriation of $2,336,912,000.00, with adjustments reflecting new figures for federal and state revenues. Notably, the bill changes the fiscal year from 2026 to 2027 and modifies the appropriations for various public universities, including adjustments to the amounts allocated for operations and support payments.

Additionally, the bill stipulates that funds appropriated to public universities will be distributed in 11 equal monthly installments starting October 16, 2026, with specific provisions for accruing payments for July and August 2027. The language also clarifies the allocation of funds for grants and financial aid, including the Michigan achievement scholarships and the Michigan reconnect program. Overall, the bill aims to ensure proper funding and distribution for higher education institutions in Michigan while updating the fiscal timelines and amounts.

Statutes affected:
Senate Introduced Bill: 388.1836, 388.1841