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Michigan Legislature
Michigan Compiled Laws Complete Through PA 117 of 2017
House: Adjourned until Tuesday, September 26, 2017 1:30:00 PM
Senate: Adjourned until Tuesday, September 26, 2017 10:00:00 AM

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Committees:  BANKING AND FINANCIAL INSTITUTIONS (9/22/2017)
Sorted by: SequenceNo
Bill/Resolution
Referred Date
CommitteeSponsorSubjectMeetingsStatus
HB 5017 of 2015 (PA 152 of 2016)
Referred 12/10/2015
Banking and Financial Institutions
Forlini, AnthonyFinancial institutions; credit unions; credit union act; make general amendments. Amends title & secs. 102, 103, 202, 214, 304, 305, 342, 345, 353, 355, 357, 401, 408, 409, 423, 431 & 432 of 2003 PA 215 (MCL 490.102 et seq.). TIE BAR WITH: HB 5018'15, HB 5019'15, HB 5020'15, HB 5021'15, HB 5022'153/1/2016
3/8/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-1
HB 5018 of 2015 (PA 153 of 2016)
Referred 12/10/2015
Banking and Financial Institutions
Pettalia, PeterFinancial institutions; credit unions; administration and operation of credit unions; make certain revisions to credit union act. Amends secs. 201, 210, 221, 303, 306 & 341 of 2003 PA 215 (MCL 490.201 et seq.). TIE BAR WITH: HB 5017'15, HB 5019'15, HB 5020'15, HB 5021'15, HB 5022'153/1/2016
3/8/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-1
HB 5019 of 2015 (PA 154 of 2016)
Referred 12/10/2015
Banking and Financial Institutions
Clemente, PaulFinancial institutions; credit unions; authority to organize or invest in credit union service organizations that provide trust services and other services; revise. Amends sec. 407 of 2003 PA 215 (MCL 490.407). TIE BAR WITH: HB 5017'15, HB 5018'15, HB 5020'15, HB 5021'15, HB 5022'153/1/2016
3/8/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-1
HB 5020 of 2015 (PA 155 of 2016)
Referred 12/10/2015
Banking and Financial Institutions
Theis, LanaFinancial institutions; credit unions; examinations by department of insurance and financial services; revise requirements and provide for confidentiality of certain documents. Amends sec. 207 of 2003 PA 215 (MCL 490.207). TIE BAR WITH: HB 5017'15, HB 5018'15, HB 5019'15, HB 5021'15, HB 5022'153/1/2016
3/8/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-1
HB 5021 of 2015 (PA 156 of 2016)
Referred 12/10/2015
Banking and Financial Institutions
Barrett, TomFinancial institutions; credit unions; credit union act; revise provisions relating to mergers. Amends sec. 371 of 2003 PA 215 (MCL 490.371). TIE BAR WITH: HB 5017'15, HB 5018'15, HB 5019'15, HB 5020'15, HB 5022'153/1/2016
3/8/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-1
HB 5022 of 2015 (PA 157 of 2016)
Referred 12/10/2015
Banking and Financial Institutions
Love, LeslieFinancial institutions; credit unions; loan promotion raffles; authorize. Amends sec. 411 of 2003 PA 215 (MCL 490.411). TIE BAR WITH: HB 5017'15, HB 5018'15, HB 5019'15, HB 5020'15, HB 5021'153/1/2016
3/8/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-1
HB 5147 of 2015
Referred 2/11/2016
Banking and Financial Institutions
Forlini, AnthonyCrimes; gambling; loan promotion raffles by credit unions and banks; exclude from gambling and lottery crimes. Amends secs. 315a & 376a of 1931 PA 328 (MCL 750.315a & 750.376a).
HB 5164 of 2015 (PA 231 of 2016)
Referred 5/31/2016
Banking and Financial Institutions
Chatfield, LeeLand use; land division; fee collected for final plat; revise. Amends sec. 241 of 1967 PA 288 (MCL 560.241). TIE BAR WITH: SB 0599'155/31/2016
REPORTED FAVORABLY WITHOUT AMENDMENT
HB 5165 of 2015 (PA 232 of 2016)
Referred 5/31/2016
Banking and Financial Institutions
Moss, JeremyProperty; recording; recording fee for judgments recorded by register of deeds; clarify. Amends sec. 2 of 1895 PA 107 (MCL 565.412). TIE BAR WITH: SB 0599'155/31/2016
REPORTED FAVORABLY WITHOUT AMENDMENT
HB 5251 of 2016 (PA 162 of 2016)
Referred 2/11/2016
Banking and Financial Institutions
Iden, BrandtFinancial institutions; banks; loan promotion raffles; authorize for state banks. Amends sec. 4111 of 1999 PA 276 (MCL 487.14111). TIE BAR WITH: SB 0752'165/3/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-1
SB 0160 of 2015 (PA 0017 of 2015)
Referred 2/25/2015
Banking and Financial Institutions
Booher, Darwin L.Cities; home rule; provision regarding financial recovery bonds; modify. Amends sec. 36a of 1909 PA 279 (MCL 117.36a).3/3/2015
REPORTED FAVORABLY WITH SUBSTITUTE S-1
SB 0200 of 2015
Referred 3/12/2015
Banking and Financial Institutions
Booher, Darwin L.State financing and management; funds; Michigan investment program; create. Amends 1984 PA 270 (MCL 125.2001 - 125.2094) by adding sec. 88s.4/14/2015
10/27/2015
11/3/2015
11/10/2015
REPORTED FAVORABLY WITH SUBSTITUTE S-3
SB 0578 of 2015 (PA 0044 of 2016)
Referred 10/22/2015
Banking and Financial Institutions
Booher, Darwin L.Consumer credit; predatory lending; mortgage borrowers' bill of rights; modify to refer to federal home loan publications. Amends secs. 2, 6 & 13 of 2002 PA 660 (MCL 445.1632 et seq.) & repeals sec. 7 of 2002 PA 660 (MCL 445.1637).10/27/2015
11/3/2015
11/10/2015
REPORTED FAVORABLY WITHOUT AMENDMENT
SB 0599 of 2015 (PA 0224 of 2016)
Referred 11/4/2015
Banking and Financial Institutions
MacGregor, PeterProperty; recording; fees for recording documents; revise. Amends sec. 2567 of 1961 PA 236 (MCL 600.2567). TIE BAR WITH: HB 5164'15, HB 5165'15, SB 0600'15, SB 0601'15, SB 0602'15, SB 0603'15, SB 0604'15, SB 0737'1611/10/2015
12/1/2015
12/8/2015
12/15/2015
REPORTED FAVORABLY WITH SUBSTITUTE S-4
SB 0600 of 2015 (PA 0225 of 2016)
Referred 11/4/2015
Banking and Financial Institutions
MacGregor, PeterLiens; other; liens for labor on oil and gas wells; clarify fee for recording and indexing a statement claiming a lien. Amends sec. 4 of 1937 PA 146 (MCL 570.254). TIE BAR WITH: SB 0599'1511/10/2015
12/1/2015
12/8/2015
12/15/2015
REPORTED FAVORABLY WITHOUT AMENDMENT
SB 0601 of 2015 (PA 0226 of 2016)
Referred 11/4/2015
Banking and Financial Institutions
Zorn, DaleLiens; other; federal tax liens; modify fee for filing and indexing liens and notices. Amends sec. 6 of 1983 PA 102 (MCL 211.666). TIE BAR WITH: SB 0599'1511/10/2015
12/1/2015
12/8/2015
12/15/2015
REPORTED FAVORABLY WITHOUT AMENDMENT
SB 0602 of 2015 (PA 0227 of 2016)
Referred 11/4/2015
Banking and Financial Institutions
Zorn, DaleLiens; other; state tax liens; modify fee for recording or filing and indexing liens and notices. Amends sec. 5 of 1968 PA 203 (MCL 211.685). TIE BAR WITH: SB 0599'1511/10/2015
12/1/2015
12/8/2015
12/15/2015
REPORTED FAVORABLY WITH SUBSTITUTE S-1
SB 0603 of 2015 (PA 0228 of 2016)
Referred 11/4/2015
Banking and Financial Institutions
Booher, Darwin L.Liens; other; fee for recording or discharging lien; modify in the Michigan employment security act. Amends sec. 15 of 1936 (Ex Sess) PA 1 (MCL 421.15). TIE BAR WITH: SB 0599'1511/10/2015
12/1/2015
12/8/2015
12/15/2015
REPORTED FAVORABLY WITH SUBSTITUTE S-1
SB 0604 of 2015 (PA 0229 of 2016)
Referred 11/4/2015
Banking and Financial Institutions
Hertel Jr., CurtisCommercial code; secured transactions; recording fees for mortgages that are effective as financing statements; clarify. Amends sec. 9525 of 1962 PA 174 (MCL 440.9525). TIE BAR WITH: SB 0599'1511/10/2015
12/1/2015
12/8/2015
12/15/2015
REPORTED FAVORABLY WITHOUT AMENDMENT
SB 0607 of 2015 (PA 0140 of 2016)
Referred 11/5/2015
Banking and Financial Institutions
Booher, Darwin L.Financial institutions; payday lending; deferred presentment service transactions act; revise definitions. Amends sec. 2 of 2005 PA 244 (MCL 487.2122). TIE BAR WITH: SB 0719'161/26/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-1
SB 0656 of 2015 (PA 0167 of 2016)
Referred 12/10/2015
Banking and Financial Institutions
Jones, RickOccupations; collection practices; applicability of collection practices provisions of occupational code to repossession and certain other collection practices; modify. Amends sec. 901 of 1980 PA 299 (MCL 339.901).2/2/2016
2/16/2016
REPORTED FAVORABLY WITHOUT AMENDMENT
SB 0657 of 2015 (PA 0168 of 2016)
Referred 12/10/2015
Banking and Financial Institutions
Jones, RickConsumer credit; collection practices; applicability of collection practices statute to repossession and certain other collection activities; modify. Amends sec. 1 of 1981 PA 70 (MCL 445.251).2/2/2016
2/16/2016
REPORTED FAVORABLY WITHOUT AMENDMENT
SB 0677 of 2015
Referred 12/15/2015
Banking and Financial Institutions
Hertel Jr., CurtisCivil procedure; foreclosure; judicial foreclosure; require for certain residential mortgages. Amends sec. 3201 of 1961 PA 236 (MCL 600.3201) & adds sec. 3117.
SB 0719 of 2016 (PA 0141 of 2016)
Referred 1/26/2016
Banking and Financial Institutions
Booher, Darwin L.Financial institutions; payday lending; satisfaction of deferred presentment transactions; authorize use of debit cards and certain telephone-initiated transactions. Amends sec. 35 of 2005 PA 244 (MCL 487.2155). TIE BAR WITH: SB 0607'15REPORTED FAVORABLY WITHOUT AMENDMENT
SB 0737 of 2016 (PA 0230 of 2016)
Referred 2/2/2016
Banking and Financial Institutions
MacGregor, PeterState financing and management; funds; recovery of certain fees for recording certain documents; allow. Amends sec. 25 of 1941 PA 122 (MCL 205.25). TIE BAR WITH: SB 0599'15REPORTED FAVORABLY WITHOUT AMENDMENT
SB 0748 of 2016 (PA 0175 of 2016)
Referred 2/4/2016
Banking and Financial Institutions
Booher, Darwin L.Financial institutions; banks; fees and examinations of state banks in banking code of 1999; revise, and establish state bank regulatory fund. Amends title & secs. 1202, 1203, 2202, 2203, 2308, 4108 & 4304 of 1999 PA 276 (MCL 487.11202 et seq.). TIE BAR WITH: SB 0749'16, SB 0750'162/16/2016
2/23/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-2
SB 0749 of 2016 (PA 0176 of 2016)
Referred 2/4/2016
Banking and Financial Institutions
Zorn, DaleFinancial institutions; banks; general definitions in banking code of 1999; revise. Amends sec. 1201 of 1999 PA 276 (MCL 487.11201). TIE BAR WITH: SB 0748'16, SB 0750'162/16/2016
2/23/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-1
SB 0750 of 2016 (PA 0177 of 2016)
Referred 2/4/2016
Banking and Financial Institutions
Nofs, MikeFinancial institutions; banks; permissible investments by state banks; revise. Amends sec. 4301 of 1999 PA 276 (MCL 487.14301). TIE BAR WITH: SB 0748'16, SB 0749'162/16/2016
2/23/2016
REPORTED FAVORABLY WITH SUBSTITUTE S-1
SB 0751 of 2016
Referred 2/4/2016
Banking and Financial Institutions
O'Brien, MargaretFinancial institutions; banks; conduct of loan promotion raffles; allow. Amends sec. 4111 of 1999 PA 276 (MCL 487.14111). TIE BAR WITH: SB 0752'162/16/2016
2/23/2016
REPORTED FAVORABLY WITHOUT AMENDMENT
SB 0752 of 2016 (PA 0163 of 2016)
Referred 2/4/2016
Banking and Financial Institutions
MacGregor, PeterCrimes; gambling; loan promotion raffles by state banks; exclude from gambling and lottery crimes. Amends secs. 315a & 376a of 1931 PA 328 (MCL 750.315a & 750.376a).2/16/2016
2/23/2016
REPORTED FAVORABLY WITHOUT AMENDMENT
SB 0842 of 2016
Referred 3/3/2016
Banking and Financial Institutions
Robertson, David B.Financial institutions; other; loan fees under regulatory loan act; clarify. Amends secs. 1 & 13 of 1939 PA 21 (MCL 493.1 & 493.13).3/8/2016
SB 0843 of 2016
Referred 3/3/2016
Banking and Financial Institutions
Robertson, David B.Consumer credit; other; credit services protection act; modify certain definitions. Amends secs. 2 & 3 of 1994 PA 160 (MCL 445.1822 & 445.1823) & adds sec. 3a.3/8/2016
SB 0891 of 2016
Referred 4/14/2016
Banking and Financial Institutions
Booher, Darwin L.Trade; securities; Michigan invests locally exemption in uniform securities act; revise. Amends sec. 202a of 2008 PA 551 (MCL 451.2202a).
SB 0892 of 2016
Referred 4/14/2016
Banking and Financial Institutions
Booher, Darwin L.Retirement; investments; investment of assets of public employee retirement systems; allow for the purchase of certain intrastate securities. Amends sec. 12d of 1965 PA 314 (MCL 38.1132d) & adds sec. 19c.
SB 0893 of 2016
Referred 4/14/2016
Banking and Financial Institutions
Schmidt, Wayne A.Corporate income tax; business income; income derived from sale of business; exclude under certain circumstances. Amends secs. 4 & 623 of 1967 PA 281 (MCL 206.4 & 206.623).
SB 0894 of 2016
Referred 4/14/2016
Banking and Financial Institutions
MacGregor, PeterIndividual income tax; deductions; deduction for certain capital gains; provide for. Amends secs. 30 & 623 of 1967 PA 281 (MCL 206.30 & 206.623).
SB 0905 of 2016
Referred 4/21/2016
Banking and Financial Institutions
Warren, RebekahFinancial institutions; other; office of the student loan ombudsman; create. Creates new act. TIE BAR WITH: HB 5585'16, SB 0907'16
SB 0906 of 2016
Referred 4/21/2016
Banking and Financial Institutions
Knezek, DavidHigher education; financial aid; student loan program; provide for issuance of student loans and loan guarantees. Amends secs. 2, 3, 4 & 10 of 1960 PA 77 (MCL 390.952 et seq.) & adds sec. 7c. TIE BAR WITH: HB 5583'16, SB 0905'16
SB 0907 of 2016
Referred 4/21/2016
Banking and Financial Institutions
Young II, ColemanFinancial institutions; other; licensing of student loan servicers; require. Creates new act. TIE BAR WITH: HB 5583'16, SB 0905'16
HB 5818 of 2016
Referred 9/7/2016
Banking and Financial Institutions
Poleski, EarlInsurance; no-fault; term of insurance policy; establish a minimum length, and require proof of new insurance for insured to cancel. Amends secs. 1617 & 3020 of 1956 PA 218 (MCL 500.1617 & 500.3020) & adds sec. 3009a.
HR 0322 of 2016
Referred 9/7/2016
Banking and Financial Institutions
Farrington, JeffA resolution to declare July 2016 as Craft Beer Month in the state of Michigan.
SR 0138 of 2016
Referred 1/28/2016
Banking and Financial Institutions
Johnson, BertA resolution to urge the United States Congress and the President of the United States to enact legislation that would reinstate the separation of commercial and investment banking functions that was in effect under the Glass-Steagall Act.
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