Michigan's Senate has approved spending $195 million to help shore up Detroit's pension funds, a key legislative step in a deal designed to end the largest public bankruptcy in U.S. history.

That clears the way for Gov. Rick Snyder, who supports the plan, to sign the bills soon. The pool of money would prevent steeper cuts to retiree pensions, while the city-owned art museum and its assets would be shielded from being sold in the bankruptcy case.