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2012 House Bill 5577: Revise unclaimed property law detail

Public Act 292 of 2012

  1. Introduced by Rep. Aric Nesbitt (R) on April 26, 2012, to reduce from 10 years to five years the time that the holder of unclaimed property must retain records of the property after it is presumed to have been abandoned.
    • Referred to the House Commerce Committee on April 26, 2012.
      • Reported in the House on May 22, 2012, with the recommendation that the substitute (H-1) be adopted and that the bill then pass.
    • Substitute offered in the House on May 30, 2012. The substitute passed by voice vote in the House on May 30, 2012.
  2. Passed 109 to 0 in the House on May 31, 2012.
    Who Voted "Yes" and Who Voted "No"

  3. Received in the Senate on June 5, 2012.
    • Referred to the Senate Economic Development Committee on June 5, 2012.
      • Reported in the Senate on June 14, 2012, with the recommendation that the bill pass.
  4. Passed 30 to 7 in the Senate on July 18, 2012, to reduce from 10 years to five years the time that the holder of unclaimed property must retain records of the property after it is presumed to have been abandoned.
    Who Voted "Yes" and Who Voted "No"

  5. Motion by Sen. Tupac Hunter (D) on July 18, 2012, to give the bill immediate effect. The motion passed 31 to 5 in the Senate on July 18, 2012.
    Who Voted "Yes" and Who Voted "No"

  6. Signed by Gov. Rick Snyder on August 1, 2012.

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