DEPARTMENT OF TREASURY
SCHOOL BOND QUALIFICATION, APPROVAL, AND LOAN RULES
Filed with the secretary of state on February 15, 2022
These rules take effect immediately upon filing with the secretary of state unless adopted
under section 33, 44, or 45a(9) of the administrative procedures act of 1969, 1969 PA 306,
MCL 24.233, 24.244, or 24.245a. Rules adopted under these sections become effective 7
days after filing with the secretary of state.
(By authority conferred on the state treasurer by section 11 of the school bond qualification,
approval, and loan act, 2005 PA 92, MCL 388.1931, and section 33 of the administrative
procedures act of 1969, 1969 PA 306, MCL 24.233
R 388.2, R 388.3, R 388.11, R 388.12, and R 388.13 of the Michigan Administrative Code
are amended, and R 388.6, R 388.10 and R 388.20 of the Code are rescinded, as follows:
PART 2. SCHOOL BOND QUALIFICATION
R 388.2 Preliminary qualification; application.
Rule 2. (1) A completed preliminary qualification application shall include a
submission to the department that complies with section 5 of the act, MCL 388.1925, any
other applicable law, and any other guidance published by the department including, but
not limited to, global instructions, policies, procedures, guidelines, or rules. The application
shall include the following:
(a) The proposed ballot language to be submitted to the electors shall include all
language required by the following statutes:
(i) Section 1361 of the revised school code, 1976 PA 451, MCL 380.1361
(ii) Section 24f of the general property tax act, 1893 PA 206, MCL 211.24f
(iii) Section 8 of the act, MCL 388.1928.
(iv) Any other applicable law.
(b) A description of the project or projects to be financed including all of the
(i) A cost analysis providing summary totals that can be matched to budget estimates
as reported by the school district.
(ii) For new construction, all of the following shall be included:
(A) The estimated number of rooms.
(B) The types of rooms expected to be constructed.
(C) The estimated square footage of the project or projects.
(D) The estimated cost per square foot.
(iii) For remodeling and site work, all of the following shall be included:
(A) The planned use of the space.
(B) The type of work expected to be performed.
May 25, 2021