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2017 Senate Bill 729: Exempt gift cards from money transmission service regulations

Public Act 573 of 2018

Introduced by Sen. Margaret O'Brien (R) on December 13, 2017
To exempt prepaid gift cards and other “stored value devices” that serve the same purpose from regulations imposed on money transmission services. The bill clarifies the an existing preemption in that law applies to gift cards sold by a third party. The bill would also exempt the agents of some specified entities from the license requirement.   Official Text and Analysis.
Referred to the Senate Banking and Financial Institutions Committee on December 13, 2017
Reported in the Senate on January 24, 2018
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Moved to reconsider by Sen. Mike Kowall (R) on May 10, 2018
The vote by which the following bill was passed.
The motion passed by voice vote in the Senate on May 10, 2018
Received in the Senate on May 10, 2018
Amendment offered by Sen. Peter MacGregor (R) on May 10, 2018
To clarify that the bill's clarifications apply retroactively.
The amendment passed by voice vote in the Senate on May 10, 2018
Received in the House on May 10, 2018
Referred to the House Financial Services Committee on May 10, 2018
Reported in the House on December 4, 2018
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
To exempt prepaid gift cards and other “stored value devices” that serve the same purpose from regulations imposed on money transmission services. The bill clarifies the an existing preemption in that law applies to gift cards sold by a third party.
Received in the Senate on December 21, 2018
To concur with the House-passed version of the bill.
Signed by Gov. Rick Snyder on December 28, 2018

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