Public employees and officers: compensation and benefits; severance pay for executive and legislative branch employees and officers; limit, and require reporting if greater than a certain amount. Creates new act.

This bill establishes the State Employment Contract Regulation Act to limit severance pay for employees and officers in Michigan's executive and legislative branches. It generally prohibits contracts that offer more than 12 weeks of wages in severance, ban non-disclosure agreements that prevent reporting illegal activities, and require contracts to be fully disclosed to the public. Exceptions allowing higher severance or restricted contracts are permitted only if legal counsel determines they are necessary to protect public funds from litigation risks, provided such agreements include legal releases of claims. Additionally, the law mandates that any contract offering six weeks or more of severance be posted online within 28 days, while contracts for elected officials must be shared with legislative leaders within three days.