Michigan's senate passed a suite of bills on Tuesday that will give state money to Detroit retirees. The aid comes after city creditors successfully pushed for a new appraisal covering gifted artworks along with city-owned pieces at the Detroit Institute of Arts.

The bills passed this week will add $195 million from Michigan to $466 million already pledged over 20 years by philanthropic foundations and the Detroit Institute of Arts, for a deal dubbed the "Grand Bargain." The projected $800 million would be used to ease pension cuts for city retirees. The contributions are contingent on eachother and pensioners' approval, and would protect the DIA's art from creditors. 

Late last year, Christie's gave an estimate of between $454 million and $867 million for the city-owned works in the DIA's collection.

After Detroit declared bankruptcy, with a debt load of $18 billion, creditors honed in on the DIA art as a saleable city asset, and have been contending that the Christie's appraisal was too low. Some experts have pinned the DIA's entire collection at about $2 billion.

Creditors have now gotten the go-ahead for a new and more extensive appraisal. If the appraisal total comes in significantly higher than the Christie's appraisal, the "Grand Bargain" will be at risk.