2023 House Bill 4994 / Public Act 132

Businesses: securities; certain fees under the uniform securities act (2002); modify.

An act to amend 2008 PA 551, entitled “An act to enact the uniform securities act (2002) relating to the issuance, offer, sale, or purchase of securities; to prohibit fraudulent practices in relation to securities; to establish civil and criminal sanctions for violations of the act and civil sanctions for violation of the rules promulgated pursuant to the act; to require the registration of broker-dealers, agents, investment advisers, and securities; to regulate Michigan investment markets; to make uniform the law with reference to securities; and to repeal acts and parts of acts,” by amending section 410 (MCL 451.2410), as amended by 2019 PA 73.

Introduced in the House

Sept. 14, 2023

Introduced by Reps. Phil Skaggs (D-80) and Phil Skaggs (D-80)

Referred to the Committee on Appropriations

Sept. 20, 2023

Reported with substitute H-2

Substitute H-2 concurred in by voice vote

Amendment offered by Rep. Cameron Cavitt (R-106)

1. Amend page 1, line 1, after “1,” by striking out “2027,” and inserting “2025,”.

2. Amend page 1, line 5, by striking out “2027,” and inserting “2025,”.

3. Amend page 2, line 1, after “1,” by striking out “2027,” and inserting “2025,”.

4. Amend page 2, line 5, after “30,” by striking out “2027,” and inserting “2025,”.

5. Amend page 2, line 11, after “1,” by striking out “2027,” and inserting “2025,”.

6. Amend page 2, line 15, by striking out “2027,” and inserting “2025,”.

7. Amend page 2, line 20, after “1,” by striking out “2027,” and inserting “2025,”.

8. Amend page 2, line 25, after “30,” by striking out “2027,” and inserting “2025,”.

9. Amend page 3, line 4, after “1,” by striking out “2027,” and inserting “2025,”.

10. Amend page 3, line 7, by striking out “2027,” and inserting “2025,”.

The amendment failed by voice vote

Passed in the House 56 to 54 (details)

Motion to give immediate effect by Rep. Abraham Aiyash (D-9)

The motion prevailed by voice vote

Received in the Senate

Sept. 26, 2023

Referred to the Committee of the Whole

Reported without amendment

Sept. 27, 2023

Passed in the Senate 20 to 18 (details)

Motion to give immediate effect by Sen. Sam Singh (D-28)

The motion prevailed by voice vote

Signed by Gov. Gretchen Whitmer

Sept. 29, 2023