28. Estimate the actual statewide compliance costs of the rule amendments on businesses or groups.
There is no cost implication for these rule changes on businesses or groups.
A. Identify the businesses or groups who will be directly affected by, bear the cost of, or directly benefit from the
No business or group will be affected by the proposed rules.
B. What additional costs will be imposed on businesses and other groups as a result of these proposed rules (i.e.
new equipment, supplies, labor, accounting, or recordkeeping)? Please identify the types and number of businesses
and groups. Be sure to quantify how each entity will be affected.
There will be no additional costs associated with the proposed rules.
29. Estimate the actual statewide compliance costs of the proposed rules on individuals (regulated individuals or
the public). Include the costs of education, training, application fees, examination fees, license fees, new
equipment, supplies, labor, accounting, or recordkeeping.
There will be no additional costs associated with the proposed rules. Also, the proposed rules apply to school
districts and do not regulate individuals or the public.
A. How many and what category of individuals will be affected by the rules?
The proposed rules do not regulate or affect individuals.
B. What qualitative and quantitative impact do the proposed changes in rules have on these individuals?
The proposed rules do not regulate or impact individuals.
30. Quantify any cost reductions to businesses, individuals, groups of individuals, or governmental units as a result
of the proposed rules.
There will be no increase or reduction in costs associated with the proposed rules.
31. Estimate the primary and direct benefits and any secondary or indirect benefits of the proposed rules. Please
provide both quantitative and qualitative information, as well as your assumptions.
Benefits of the proposed rules to school districts include removal of confusion caused by duplication between the
rules and the Act. A benefit for Treasury staff is not having to do an interest rate change mid-quarter.
32. Explain how the proposed rules will impact business growth and job creation (or elimination) in Michigan.
The proposed rules will have no effect on business growth or job creation or elimination in Michigan.
33. Identify any individuals or businesses who will be disproportionately affected by the rules as a result of their
industrial sector, segment of the public, business size, or geographic location.
No individuals or businesses will be affected by the proposed rules.
34. Identify the sources the agency relied upon in compiling the regulatory impact statement, including the
methodology utilized in determining the existence and extent of the impact of the proposed rules and a cost-
benefit analysis of the proposed rules.
Sources relied upon in compiling this statement include section 11 of 2005 PA 92, MCL 388.1931, and section 33,
MCL 24.233 of 1969 PA 306, MCL 24.201 to 24.328, all as amended, as well as practices completed by Treasury
staff who complete the interest rate calculations. The School Bond Loan staff and management determined what was
duplicated between the current rules and the Act. Staff and management considered the necessity of the interest rate
calculation and determined to discontinue the September 1st calculation.
A. How were estimates made, and what were your assumptions? Include internal and external sources, published
reports, information provided by associations or organizations, etc., that demonstrate a need for the proposed
The proposed rules are needed for the continued implementation and administration of the School Bond Loan
Program. The interest rate calculation is based upon Bank of America and PNC bank average monthly interest rates.
Due to the typically stable variation in these rates, we can confidently estimate that the interest rate calculation
between September 1st and September 31st are not going to be materially different.
Alternative to Regulation
35. Identify any reasonable alternatives to the proposed rules that would achieve the same or similar goals.