2011 House Bill 4975 / 2012 Public Act 505

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Introduced in the House

Sept. 14, 2011

Introduced by Rep. Margaret O’Brien (R-61)

To impose new regulations on appraisal management companies. Another bill (House Bill 5271) would impose fees.

Referred to the Committee on Regulatory Reform

Oct. 5, 2011

Reported without amendment

With the recommendation that the bill be referred to the Committee on Banking and Financial Services.

Referred to the Committee on Banking and Financial Services

March 22, 2012

Reported without amendment

With the recommendation that the substitute (H-2) be adopted and that the bill then pass.

March 28, 2012

Substitute offered

The substitute passed by voice vote

March 29, 2012

Passed in the House 105 to 5 (details)

Received in the Senate

April 17, 2012

Referred to the Committee on Banking and Financial Institutions

June 12, 2012

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

Dec. 13, 2012

Substitute offered

The substitute passed by voice vote

Substitute offered by Sen. Darwin Booher (R-35)

To replace the previous version of the bill with one that revises details but does not change the substance as previously described.

The substitute passed by voice vote

Passed in the Senate 38 to 0 (details)

To impose new regulations on appraisal management companies. Another bill (House Bill 5271) would impose fees.

Received in the House

Dec. 13, 2012

Passed in the House 105 to 4 (details)

Signed by Gov. Rick Snyder

Dec. 27, 2012