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HB5559 • 2026

Financial institutions: money transmitters; money transmission services act; provide for exemption for certain earned wage access services. Amends sec. 4 of 2006 PA 250 (MCL 487.1004). TIE BAR WITH: HB 5558'26

Financial institutions: money transmitters; money transmission services act; provide for exemption for certain earned wage access services. Amends sec. 4 of 2006 PA 250 (MCL 487.1004). TIE BAR WITH: HB 5558'26

Labor
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Matt Bierlein (District 97), David Martin (District 68), Gregory Alexander (District 98), Douglas Wozniak (District 59), Tyrone Carter (District 1), Joseph Tate (District 9), John Roth (District 104), Tullio Liberati (District 2)
Last action
2026-04-30
Official status
referred to second reading
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Financial institutions: money transmitters; money transmission services act; provide for exemption for certain earned wage access services. Amends sec. 4 of 2006 PA 250 (MCL 487.1004). TIE BAR WITH: HB 5558'26

Financial institutions: money transmitters; money transmission services act; provide for exemption for certain earned wage access services.

What This Bill Does

  • Financial institutions: money transmitters; money transmission services act; provide for exemption for certain earned wage access services.
  • Amends sec.
  • 4 of 2006 PA 250 (MCL 487.1004).
  • TIE BAR WITH: HB 5558'26

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-04-30 HJ 34 Pg. 0

    reported with recommendation without amendment

  2. 2026-04-30 HJ 34 Pg. 0

    referred to second reading

  3. 2026-02-26 HJ 16 Pg. 189

    bill electronically reproduced 02/24/2026

  4. 2026-02-24 HJ 14 Pg. 162

    introduced by Representative Rep. Matthew Bierlein

  5. 2026-02-24 HJ 14 Pg. 162

    read a first time

  6. 2026-02-24 HJ 14 Pg. 162

    referred to Committee on Regulatory Reform

Official Summary Text

Financial institutions: money transmitters; money transmission services act; provide for exemption for certain earned wage access services. Amends sec. 4 of 2006 PA 250 (MCL 487.1004). TIE BAR WITH: HB 5558'26