2012 House Bill 5271 / Public Act 426

Impose new fees on appraisal management companies

Introduced in the House

Jan. 24, 2012

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

To impose a new “registration fee” on appraisal management companies. The initial fee would be $500, plus $250 annually.

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 103 to 7 (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 bill pass.

Dec. 13, 2012

Passed in the Senate 38 to 0 (details)

To impose a new “registration fee” on appraisal management companies. The initial fee would be $500, plus $500 annually.

Received in the House

Dec. 13, 2012

In the Senate

Dec. 13, 2012

Motion to reconsider by Sen. Arlan Meekhof (R-30)

The vote by which the following bill was passed.

The motion passed by voice vote

Received

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

To increase the proposed annual fee.

The substitute passed by voice vote

Passed in the Senate 33 to 5 (details)

To impose a new “registration fee” on appraisal management companies. The initial fee would be $500, plus $500 annually.

In the House

Dec. 14, 2012

Passed in the House 96 to 10 (details)

Signed by Gov. Rick Snyder

Dec. 20, 2012