2024 House Bill 5535

Occupations: pawnbrokers; allowable rate of interest charged by pawnbrokers; increase, and prescribe civil sanctions.

A bill to amend 1917 PA 273, entitled “An act to regulate and license pawnbrokers that conduct business in this state; to provide for the disposition of allegedly misappropriated property in the possession of pawnbrokers; to provide remedies and prescribe penalties; and to provide for the powers and duties of certain local governmental units and state agencies,” by amending the title and section 18 (MCL 446.218), the title as amended by 2018 PA 345.

Introduced in the House

March 5, 2024

Introduced by Rep. Joseph Aragona (R-60) and 10 co-sponsors

Co-sponsored by Reps. Doug Wozniak (R-59), Will Snyder (D-87), Tullio Liberati (D-2), Gregory Alexander (R-98), Matt Bierlein (R-97), Timothy Beson (R-96), Mike Harris (R-52), Jay DeBoyer (R-63), Tom Kunse (R-100) and Mike McFall (D-8)

Referred to the Committee on Regulatory Reform