A Pontiac movie studio hoping to cash in on Michigan’s film subsidy program will fail to make its February bond payment, according to the Detroit Free Press. The Michigan State Employees Retirement System, which guaranteed the $18 million worth of bonds, will have to make the $630,000 payment.

“Those who championed this program should be on the hook for paying the debt, not pensioners,” Michael LaFaive, director of the Center’s Morey Fiscal Policy Initiative, told the Free Press.

The Livingston Daily Press & Argus also has coverage of the issue, and The Detroit News cites this commentary by Senior Legislative Analyst Jack McHugh on the subject.

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