Michigan · 2025-2026
SB 835
Financial institutions: money transmitters; money transmission modernization act; create. Creates new act & repeals 2006 PA 250 (MCL 487.1001 - 487.1047).
Bill record: Open States bulk CSV (bills/votes) CC0-1.0
Summary AI-generated
Michigan SB 835 proposes creating a new Money Transmission Modernization Act to regulate financial institutions acting as money transmitters. The legislation would simultaneously repeal the existing 2006 PA 250, which covers MCL 487.1001 through 487.1047.
Software-generated, grounded only in the bill's own fields (it does not invent outcomes, amounts, or dates). Provenance: Open States bulk CSV (bills/votes) CC0-1.0 GovTally LLM enrichment (local oMLX)
Issue tags AI-classified
Classified by a local model from the bill's text; confidence shown. GovTally LLM enrichment (local oMLX)
Sponsors + 4 cosponsors
- Rosemary Bayer Democratic lead
- John Damoose Republican
- Mary Cavanagh Democratic
- Roger Victory Republican
- Veronica Klinefelt Democratic