Gov. Rick Snyder says the city of Flint will be released from state receivership and the Flint Receivership Transition Advisory Board will be dissolved upon approval by state Treasurer Nick Khouri.
Khouri says he intends to release Flint from more than six years of state oversight one the matter reaches his desk.
City leadership would regain full local control under the moves.
Flint was the last municipality to be under state financial oversight through an RTAB.
Mayor Karen Weaver says the moves announced Wednesday created "a great day for the city of Flint."
In November 2011, a financial review team concluded a financial emergency existed in Flint. The city had an emergency manager until April 2015, when the Flint RTAB began overseeing a transition to local control.