Mich. governor signs new emergency manager law - 13abc.com Toledo (OH) News, Weather and Sports

Mich. governor signs new emergency manager law

DETROIT (AP) - 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The bill was approved by lawmakers after voters repealed an emergency-manager law in the fall election.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.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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