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.
House Bill 4994 would amend the Uniform Securities Act (2008 PA 551), which provides for regulation of the securities industry in this state, by extending fee sunsets that will mature on September 30, 2023 through September 30, 2027. The bill would maintain FY 2022-23 fee amounts by extending previously enacted fee increases. (Increases were initially enacted in 2008 with sunset provisions.) The fee sunsets were previously extended in 2019.
Introduced
by
Referred to the Committee on Appropriations
Reported with substitute H-2
Substitute H-2 concurred in by voice vote
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
The motion prevailed by voice vote
Referred to the Committee of the Whole
Reported without amendment
Passed in the Senate 20 to 18 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
