Posted at: 06/05/2014 4:28 PM
LANSING, Mich. (AP) - Gov. Rick Snyder's administration and Republican lawmakers have signed an agreement setting the stage for approval of Michigan's roughly $50 billion state budget.
The deal Thursday includes more spending on public universities, and higher state revenue-sharing payments to local governments in the fiscal year starting in October. Snyder's proposed tax cut targeted to low- and moderate-income residents is not included in the budget agreement.
House-Senate conference committees began approving parts of the spending plan Thursday. Final legislative passage is likely next week, and some key details such as the per-pupil funding increase for individual school districts must still be ironed out.
Michigan's 15 public universities would get nearly 6 percent more in state aid if they hold tuition increases to no more than 3.2 percent.
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