SB 872 Michigan Senate · 2025-2026 Regular Session

Appropriations: department of insurance and financial services; appropriations for fiscal year 2026-2027; provide for. Creates appropriation act.

This bill allocates state funding to Michigan's Department of Insurance and Financial Services for the 2026-2027 fiscal year. It establishes the budget amount the department can spend on its operations and programs during that period. The legislation authorizes the department to use these funds for its designated responsibilities related to insurance and financial services regulation.

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Mar 2026

Committee Review

Floor Vote

Governor

Introduced Mar 18, 2026 Last action Apr 21, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Senate Introduced Bill → Substitute (S-1) · 3 edits

MINOR

The bill was amended to significantly increase funding for the Department of Insurance and Financial Services, raising the gross appropriation from $100 to over $82 million for the 2027 fiscal year. The text was also reformatted to include detailed line-item breakdowns of specific revenue sources, such as bank fees and insurance licensing fees, to replace the previous summary-only structure.

FISCAL

The total appropriation amount increased drastically from a symbolic $100 to $82,583,800, reflecting a major budget adjustment.

New detailed line-item sections were added to specify exactly which funds (e.g., consumer finance fees, credit union fees) pay for specific administrative and regulatory activities.

TECHNICAL

The bill's header and page numbering were updated to reflect its status as a substitute bill (S-1) rather than the original introduction.

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 21, 2026

Committee

REFERRED TO COMMITTEE OF THE WHOLE WITH SUBSTITUTE (S-1)

upper

Apr 21, 2026

Upper · Passed

COMMITTEE RECOMMENDED IMMEDIATE EFFECT

upper

Apr 21, 2026

Upper · Passed

REPORTED FAVORABLY WITH SUBSTITUTE (S-1) 4/16/2026

upper

Apr 14, 2026

Upper · Passed

REASSIGNED TO COMMITTEE ON APPROPRIATIONS

upper

Mar 18, 2026

Committee

REFERRED TO COMMITTEE OF THE WHOLE

upper

Mar 18, 2026

Introduced

INTRODUCED BY SENATOR MARY CAVANAGH

upper

1 primary · 0 co-sponsors