Michigan Governor Signs $1B Flint Water Settlement Funding Bills

Dec. 30, 2020, 6:19 PM

Michigan Gov. Gretchen Whitmer (D) signed a pair of bills Wednesday allowing the state to take out roughly $1 billion in debt to cover its $600 million Flint water crisis settlement with residents of the township exposed to lead in their drinking water in 2014.

The bills (Senate Bills 1251 and 1252) permit the state’s economic development arm, the Michigan Strategic Fund, to issue bonds for the $600 million. The state in turn would pay the fund $35 million annually to cover the debt service.

  • “This settlement ends the fiscal uncertainty the crisis created in our state and allows...

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