Michigan Senate panel OKs Detroit bankruptcy bills

Michigan Senate panel OKs Detroit bankruptcy bills

Posted: Updated:
LANSING, Mich. (AP) -- A committee in the Michigan Senate has approved spending $195 million to help shore up Detroit's pension funds, moving the legislation closer to Gov. Rick Snyder's desk.
 
The Republican-led Senate Government Operations Committee voted 5-0 Tuesday to contribute state money to join commitments from 12 foundations and the Detroit Institute of Arts toward a deal designed to end the largest public bankruptcy in U.S. history. The full Senate could vote as early as later in the afternoon.
 
The pool of money would prevent steeper cuts to retiree pensions while the city-owned art museum and its assets would be transferred to a private nonprofit and shielded from being sold in the bankruptcy case.
 
The Senate panel's vote came two weeks after the GOP-controlled House approved the bills in bipartisan votes.
  • Local NewsLocal NewsMore>>

  • Let It Rip Weekend Proposal One and the Mongo Brothers

    Let It Rip Weekend Proposal One and the Mongo Brothers

    Let It Rip Weekend Proposal One and the Mongo Brothers

    Monday, July 28 2014 2:46 PM EDT2014-07-28 18:46:07 GMT
    How is Proposal One tied into funding our local schools, police and fire departments, plus should African Americans abandon the Democratic Party and the UAW?
    How is Proposal One tied into funding our local schools, police and fire departments, plus should African Americans abandon the Democratic Party and the UAW?

  • Porch shooter Theodore Wafer back in court for 3rd day of trial

    Porch shooter Theodore Wafer back in court for 3rd day of trial

    Monday, July 28 2014 2:34 PM EDT2014-07-28 18:34:31 GMT
    The trial of a Detroit-area man who killed a young unarmed woman on his porch is entering its first full week of testimony.
    The trial of a Detroit-area man who killed a young unarmed woman on his porch is entering its first full week of testimony.
  • Parents of child held in basement appearing in court

    Parents of child held in basement appearing in court

    Monday, July 28 2014 2:30 PM EDT2014-07-28 18:30:40 GMT
    DETROIT -- The father and stepmother of a 12-year-old Detroit boy who was found in his basement after an 11-day disappearance are due back in court.
    DETROIT -- The father and stepmother of a 12-year-old Detroit boy who was found in his basement after an 11-day disappearance are due back in court.
  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices