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Snyder signs new emergency manager law

1:15 PM, Dec 27, 2012   |    comments
Michigan Gov. Rick Snyder / Detroit Free Press file photo
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DETROIT (AP) -- Michigan Gov. Rick Snyder has signed a law that gives distressed communities the ability to choose an emergency manager or other remedies to fix their finances.

The bill was approved by lawmakers after voters repealed an emergency-manager law in the fall election. Snyder's office said Thursday that the law is among 19 signed by the governor, just a portion of the dozens of bills that still are on his desk.

If a review team finds that a financial emergency exists, local governments and school districts have four choices, including an emergency manager, bankruptcy or a reform plan with the state.

The law won't start until late March. Under the old law, the power to send an emergency manager rested solely with the governor.

AP

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