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Legislature to vote on bailout for Detroit

LANSING, MI (WTVB) - Saving Motown with your tax dollars. Votes are scheduled today in a Michigan state House committee on a series of bills that would provide money to help win stakeholder approval of a Detroit bankruptcy settlement.  Legislators are being asked to authorize the equivalent of $350-million over 20 years for Detroit's two retiree pension funds and protection of the Detroit Institute of Arts collection from creditors.  Private foundations have committed a matching amount and the DIA will put in $100-million to the so-called grand bargain. 

The Michigan Building and Construction Trades Council announced yesterday an undisclosed contribution to retiree health costs.

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