Bills propose $195 million payment to Detroit - KMSP-TV

Bills propose $195 million payment to Detroit

Posted: Updated:
LANSING, Mich. (AP) - Michigan would contribute a nearly $195 million lump-sum payment from the state's rainy day fund to bankrupt Detroit to bolster pension funds and prevent the sale of city-owned art under newly introduced legislation.

The 11-bill package introduced Thursday also would create an oversight committee to review Detroit's budgeting and spending for 20 years and move new hires to a 401(k) plan instead of a pension plan once a recently negotiated collective bargaining contract expires.

The seven-member committee would include appointees of the governor, state treasurer, legislative leaders and Detroit mayor.

The legislation also would provide for a separate investment committee to oversee Detroit pension funds. The intent is to pattern Detroit's oversight after the long-term oversight of New York City after its financial crisis in the 1970s.
  • Local NewsLocal NewsMore>>

  • Federal sting ends in gunfire in Highland Park

    Federal sting ends in gunfire in Highland Park

    Saturday, August 2 2014 12:03 AM EDT2014-08-02 04:03:37 GMT
    In what started as a traffic stop, resulted in a shootout between federal agents and a pair of men known to have illegal assault rifles in Highland Park.Police say a task force of ATF and FBI agents who had previously set up a meet with two men, known to have AK-47s and AR-15s in their Chevrolet Cavalier, began to move in. The traffic stop was made near Oakland and Victor about 7:30 p.m. Friday. The car rammed the federal agents vehicle and the driver opened fire with a handgun. The agents re...
    In what started as a traffic stop, resulted in a shootout between federal agents and a pair of men known to have illegal assault rifles in Highland Park.Police say a task force of ATF and FBI agents who had previously set up a meet with two men, known to have AK-47s and AR-15s in their Chevrolet Cavalier, began to move in. The traffic stop was made near Oakland and Victor about 7:30 p.m. Friday. The car rammed the federal agents vehicle and the driver opened fire with a handgun. The agents re...
  • Officer hit by drunk driver on Detroit's east side

    Officer hit by drunk driver on Detroit's east side

    Friday, August 1 2014 11:15 PM EDT2014-08-02 03:15:06 GMT
    An officer was hit by a driver believed to be drunk Friday at 8 mile and Alcoy on Detroit's east side.Police say officers were investigating at the scene of a traffic accident when the driver ran through the barricade and hit the woman.She was transported to an area hospital with non-life threatening injuries and the drunk driver was arrested. Police had been conducting an investigation of the original accident in which one of the drivers died. Eight mile is closed in east bound lane by Alcoy.
    An officer was hit by a driver believed to be drunk Friday at 8 mile and Alcoy on Detroit's east side.Police say officers were investigating at the scene of a traffic accident when the driver ran through the barricade and hit the woman.She was transported to an area hospital with non-life threatening injuries and the drunk driver was arrested. Police had been conducting an investigation of the original accident in which one of the drivers died. Eight mile is closed in east bound lane by Alcoy.
  • Man arrested after trying to wrestle gun from officer in Detroit

    Man arrested after trying to wrestle gun from officer in Detroit

    Friday, August 1 2014 9:32 PM EDT2014-08-02 01:32:44 GMT
    A man was arrested after he went for an officer's gun trying to wrestle it away from Detroit Police, causing the weapon to fire.SkyFOX was over the scene on Manning Street in Detroit, where the incident occurred Friday,The bullet didn't hit anyone and police took a 27-year-old man from Roseville into custody.Police say the home was a known drug den, and when officers drove by the property -- four people ran from the home.The officer and suspect were treated at a hospital for non life threaten...
    A man was arrested after he went for an officer's gun trying to wrestle it away from Detroit Police, causing the weapon to fire.SkyFOX was over the scene on Manning Street in Detroit, where the incident occurred Friday,The bullet didn't hit anyone and police took a 27-year-old man from Roseville into custody.Police say the home was a known drug den, and when officers drove by the property -- four people ran from the home.The officer and suspect were treated at a hospital for non life threaten...
  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices