On Wednesday, the House and Senate approved of over one billion dollars in supplemental funding, with the goal of making meaningful investments in economic development, education, and public safety. Appropriations within the supplemental include:
- $846 million will go to the Strategic Outreach and Attraction Reserve (SOAR) fund, distributed in the following two ways:
- A $496 million deposit into the fund for future economic investments ($206 million is re-appropriated from the prior year).
- $350 million for site development statewide, including grants to regional and local economic development organizations, strategic site improvements, and remediation and redevelopment for future projects.
- Increased mental health funding for public safety professionals and law enforcement officers.
The supplemental also creates the Michigan Achievement Scholarship, which would provide funding as follows:
- Starting with the class of 2023, high school graduates will be eligible for more financial aid from the state up to:
- $2,750 per year, if they attend a community college
- $4,000 per year, if they attend a private college or university
- $5,500 per year, if they attend a public university
- Students will be eligible if their family demonstrates financial need when they complete the FAFSA. The scholarship will cover:
- 94% of students attending community colleges
- 79% of students attending a private college or university
- 76% of students attending a public university
The supplemental will be sent to Governor Gretchen Whitmer for consideration. Her team was part of the negotiations of the funding plan, and she released a joint statement of support with leadership in the House and Senate.
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