WATCH LIVE: Lawmakers hold hearing on Detroit bankruptcy

LANSING, Mich. (AP) - Michigan lawmakers are considering legislation to provide state aid to help settle Detroit's bankruptcy while imposing conditions on the city.

A short recess has been called. The hearing is set to resume at 1:30 p.m.

CLICK HERE TO WATCH THE HEARING LIVE

The first committee hearing on the 11-bill package is under way in Lansing. Detroit emergency manager Kevyn Orr is testifying.

Two more hearings are planned later in the week.

The legislation would provide a $195 million lump-sum payment to help shore up Detroit pension funds and prevent the sale of city-owned art. A committee would be created to oversee city budgeting and spending for at least 20 years and possibly longer.

Other conditions include prohibiting the Detroit Institute of Arts from renewing a three-county property tax millage when it expires in 2023 and eventually moving new city hires from pension plans to 401(k) plans.

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