Can’t imagine this is going to go over well with the pinky ring brigade.

Lansing — Gov. Rick Snyder signed a new emergency manager bill Thursday, 52 days after voters repealed a similar version of the law.

Snyder spokeswoman Sara Wurfel confirmed the replacement law is among 19 bills Snyder signed into law Thursday.

“These new laws recognize the vital importance of financially stable, economically vibrant communities to Michigan’s future,” Snyder said in a statement. “They also respect the needs of citizens and taxpayers by delivering greater oversight and efficiency. Our reinvention of government is delivering meaningful reforms that will keep Michigan on the path to prosperity.” [...]

Under the new law, the state could review the finances of a city or school district if the entity defaults on debt payments, has a six-month-old overdue bill of at least $10,000, fails to make payroll for a week or if requested by the governing body or chief administrative officer.

Cities and school districts in a financial emergency could choose from mediation, a state-supervised financial consent agreement, an emergency manager or Chapter 9 municipal bankruptcy.

Under the old law, bankruptcy was only an option if an emergency manager determined it was the only viable option.

Emergency managers would have the ability to reject, modify or terminate labor union agreements — sweeping authority granted under the repealed 2011 law. Collective bargaining could be suspended for up to five years.