LANSING (WKZO) -- Detroit's finances could be under state oversight for up to 20 years if a proposed package of bills to give aid to help the city emerge from bankruptcy is passed. The eleven bills linked to giving Detroit nearly 195-million dollars were introduced in the state House Thursday.
The measures would create a seven-member commission which would have veto power over city officials on spending and contracts. The package also seeks to prevent the Detroit Institute of Arts from renewing a tri-county property tax and for all new employees to move into a 401-K style pension plan.
Emergency Manager Kevyn Orr is scheduled to testify next week before the House committee handling the legislation.