CREDIT THEFT - H.B. 4670 (S-1): FLOOR ANALYSIS
House Bill 4670 (Substitute S-1 as reported)
Sponsor: Representative Samuel Thomas III
House Committee: Criminal Law and Corrections
Senate Committee: Banking and Financial Institutions
The bill would amend the Code of Criminal Procedure to include those felonies proposed in House Bills 4413 (S-1) and 4598 (S-1) in the Code's sentencing guidelines. The bill would categorize the proposed offenses as Class F felonies against property, with a statutory maximum sentence of four years' imprisonment.
The bill would take effect 90 days after it was enacted. The bill is tie-barred to House Bill 4413 (S-1) and House Bill 4598 (S-1), which would make it a felony to apply for a loan or other extension of credit in another person's name.
MCL 777.161 - Legislative Analyst: G. Towne
House Bills 4413 (S-1), 4598 (S-1), and 4670 (S-1) would have an indeterminate fiscal impact on State and local government.
There are no data available to indicate how many people could be convicted of preparing or submitting a loan application for another individual without authorization from that individual, or submitting such an application to a financial institution. These property crimes would be a Class F felonies, which have a minimum sentence range from 0-3 months to 17-30 months.
Assuming that 10 people a year would be found guilty of this offense and would be sentenced to prison for a minimum of 30 months, given that the average cost of incarceration is $22,000 annually, the cost of incarcerating these offenders would be $550,000 per year. Assuming that 10 people a year were convicted of this offense and that they each received a sentence within the lower minimum range, costs for incarceration would be incurred by local units of government.
Date Completed: 10-12-99 - Fiscal Analyst: K. Firestone
floor\hb4670 - Analysis available @ http://www.michiganlegislature.org
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.