2025 House Bill 4116

Occupations: pawnbrokers; allowable rate of interest changed by pawnbrokers, increase.

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 sections 8 and 9 (MCL 446.208 and 446.209), section 8 as amended by 2002 PA 469 and section 9 as amended by 2018 PA 345.

AI Analysis – Experimental

House Bills 4115 and 4116 change existing pawnbroker regulations to introduce civil penalties, increase fines for violations, and establish a new fine for excessive interest rates.

Introduced in the House

Feb. 25, 2025

Introduced by Rep. Tullio Liberati (D-2) and 9 co-sponsors

Co-sponsored by Reps. Reggie Miller (D-31), Joseph Aragona (R-60), Jimmie Wilson (D-32), Matt Bierlein (R-97), Ron Robinson (R-58), Alicia St. Germaine (R-62), Will Snyder (D-87), Peter Herzberg (D-25) and Matt Maddock (R-51)

Referred to the Committee on Regulatory Reform

March 13, 2025

Reported without amendment

March 20, 2025

Passed in the House 83 to 21 (details)

Motion to give immediate effect by Rep. Bryan Posthumus (R-90)

The motion prevailed by voice vote