HB 5544, the "Money Transmission Modernization Act," creates a new regulatory framework for money transmitters (such as digital payment apps and services) operating in Michigan. It replaces Michigan’s outdated 2006 money transmission laws, requiring these businesses to obtain state licenses, standardizing which activities need licensing, and establishing safety rules to protect customer funds. The bill also mandates that transmitters calculate their average daily money transmission liability and adhere to modernized requirements for financial crime prevention and regulatory coordination. This affects all money transmitters serving Michigan residents and the Department of Insurance and Financial Services, which will enforce the new rules.
HB 5546 amends Michigan's Deferred Presentment Service Transactions Act to clarify which financial services fall under its regulation. It revises definitions to explicitly exclude certain loan types - like those regulated under the Consumer Financial Services Act, Mortgage Brokers Act, or Money Transmission Modernization Act - from being classified as "deferred presentment service transactions." This change ensures payday-style loans (where customers provide checks for cash with delayed repayment) remain governed by this specific law, while other licensed loans continue under separate regulations. The bill does not create new rules but updates references to align with current financial service laws.
HB 5548 amends Michigan's Consumer Financial Services Act to update internal references related to money transmission services. It specifically clarifies the net worth requirement for applicants seeking licenses to provide money transmission services, maintaining a base requirement of $100,000 plus $25,000 for each location (or $1 million total, whichever is less). The bill does not change the actual financial requirements but ensures consistent terminology with Michigan's separate Money Transmission Services Act. This affects businesses applying for or holding licenses to operate money transmission services in Michigan.
HB 5550 updates the Consumer Financial Services Act to correctly reference "money transmission services" as defined in the separate Money Transmission Services Act. It revises Section 10g of the act to align internal references with current definitions, ensuring consistency between laws. This is a technical correction affecting how the law cites money transmission services, not a change to enforcement rules or penalties. The bill does not alter existing prohibitions on fraud, money laundering, or licensing requirements. It takes effect January 1, 2026, pending passage of related legislation (HB 5544).
HB 5547 revises Michigan's sentencing guidelines specifically for money transmission violations, which involve illegal activities like operating unlicensed money services. This bill directly affects individuals convicted of such offenses by updating the sentencing framework under existing law (MCL 777.14p). The key provision is amending the sentencing guidelines to reflect current legal standards for these violations, without creating new penalties. The bill focuses on procedural adjustments to the criminal code, not new policies or outcomes. (1 sentence for procedural bill)
HB 5338 requires Michigan's education department to develop a brief, one-class-period presentation about organ, eye, and tissue donation - including information about the Michigan Organ Donor Registry - by January 1, 2027. Starting in the 2027-2028 school year, public schools are encouraged to provide this presentation to students before they complete 9th grade. Parents or legal guardians may request their child be excused from the presentation without penalty. The bill does not mandate school participation but ensures the presentation is created in consultation with the state's organ procurement organization.
HB 4408 revises Michigan's "Powers of appointment act of 1967," primarily affecting how trustees manage irrevocable trusts. It allows a trustee with discretionary power to distribute assets from an existing irrevocable trust to transfer those assets into a newly created second trust. This "decanting" is permitted only if specific conditions are met, such as ensuring beneficiaries remain largely the same and protecting certain financial interests like marital or charitable deductions. Additionally, the bill clarifies when the time period for future interests in a trust begins when a power of appointment is exercised.
HB 4523 updates Michigan's trust law by clarifying which trust terms must follow state requirements, regardless of the trust document. It specifies that trust agreements cannot override court powers to modify trusts, spendthrift clauses, duration limits for animal care trusts, or beneficiary rights protections. This affects trustees managing trusts, beneficiaries (including charitable organizations and animal care enforcers), and entities like the Attorney General overseeing charitable trusts. The bill ensures core legal safeguards remain enforceable even if trust documents attempt to bypass them.
HB 4540 amends Michigan's Housing and Community Development Fund to expand eligible uses of the funds. It allows the state housing authority to provide grants, loans, or assistance for housing projects targeting low-, very low-, and middle-income households, including new construction, rehabilitation, foreclosure prevention, and predatory lending relief. The bill specifically adds support for "individual development accounts" (for savings programs) and community development projects like blight elimination. It affects housing providers, nonprofits, and residents in targeted income groups by clarifying how existing state funds can be allocated to address housing needs.
HB 4539 amends Michigan's housing law to clarify definitions and strengthen funding rules for affordable housing projects. It defines key terms like "extremely low-income" (≤30% of area median income) and "downtown area" (50+ years of commercial use with mixed buildings), directly affecting low- and middle-income households in these zones. The bill requires 30% of funds to support projects for extremely low-income households (including homeless and supportive housing) and mandates that 20% of units in all funded projects serve households earning ≤60% of area median income. It also requires the housing authority to create a public input process for its biennial funding plan, prioritizing areas with high poverty, disability needs, and housing distress.
HB 4905 amends Michigan's licensing requirements for marriage and family therapists to explicitly allow virtual supervision via secure technology during training. It directly affects individuals seeking licensure who must complete supervised clinical hours, permitting them to meet the 300-hour practicum and 1,000-hour post-degree experience requirements through real-time video sessions instead of requiring in-person sessions only. The bill modifies specific sections of the Public Health Code (MCL 333.16909) to clarify that supervision via secure video technology qualifies, as long as it enables direct, contemporaneous interaction. This change aligns licensing standards with modern telehealth practices while maintaining the same hour requirements and supervision ratios. The bill does not alter the total hours needed or the qualifications of supervisors.
HB 5046 modifies Michigan's foreclosure law to clarify the process for recording deeds after a property sale and streamline how homeowners can redeem their property. It requires that deeds from foreclosure sales be recorded with the county register of deeds within 20 days, and if not recorded on time, the redemption period begins when the deed is filed. The bill specifies the exact redemption amount homeowners must pay (including the bid price, interest, and fees) and mandates that purchasers provide an affidavit detailing this amount and the redemption deadline. This affects homeowners seeking to reclaim their property, buyers at foreclosure sales, and county offices responsible for property records.
