HOUSE OF REPRESENTATIVES
COMMITTEE ON FINANCIAL SERVICES
REP. DIANA FARRINGTON
CHAIR
COMMITTEE MEETING MINUTES
Wednesday, May 26, 2021
12:00 PM
Room 327, House Office Building
The House Committee on Financial Services was called to order by Chair Farrington.
The Chair requested attendance be called:
Present: Reps. Farrington, Wakeman, Griffin, Reilly, O'Malley, Carra, Clemente,
Camilleri, Rogers, Scott, Young.
Absent: None.
Excused: None.
Representative O'Malley moved to adopt the meeting minutes from May 19, 2021. There
being no objection, the motion prevailed by unanimous consent.
The Chair laid HB 4828 before the committee:
HB 4828
(Rep. Clemente)
A bill to amend 2005 PA 244, entitled "Deferred
presentment service transactions act," by
amending section 51 (MCL 487.2171).
The following people submitted a card in support of HB 4828, but did not wish to speak:
Ross Yednock, representing the Michigan Department of Insurance and Financial
Services.
Peter Ruark, representing the Michigan League for Public Policy.
Patricia Herndon, representing the Michigan Bankers Association.
Representative Wakeman moved to adopt substitute (H-1) to HB 4828. The motion prevailed
10-0-1:
FAVORABLE ROLL CALL
Yeas: Reps. Farrington, Wakeman, Griffin, Reilly, O'Malley, Clemente, Camilleri,
Rogers, Scott, Young.
Nays: None.
Pass: Rep. Carra.
Representative Rogers moved to report out HB 4828 with recommendation, as substitute (H-
1). The motion prevailed 9-1-1:
FAVORABLE ROLL CALL
Yeas: Reps. Farrington, Wakeman, Griffin, O'Malley, Clemente, Camilleri, Rogers, Scott,
Young.
Nays: Rep. Carra.
Pass: Rep. Reilly.
The Chair laid HB 4694 before the committee:
HB 4694
(Rep. O'Malley)
A bill to amend 1962 PA 174, entitled "Uniform
commercial code," by amending sections 9520,
9521, and 9525 (MCL 440.9520, 440.9521, and
440.9525), section 9520 as amended by 2008 PA
383, section 9521 as amended by 2012 PA 88, and
section 9525 as amended by 2016 PA 229.
Representative O'Malley moved to report out HB 4694 with recommendation. The motion
prevailed 11-0-0:
FAVORABLE ROLL CALL
Yeas: Reps. Farrington, Wakeman, Griffin, Reilly, O'Malley, Carra, Clemente, Camilleri,
Rogers, Scott, Young.
Nays: None.
Pass: None.
The Chair laid HB 4812 before the committee:
HB 4812
(Rep. Alexander)
A bill to amend 1893 PA 206, entitled "The
general property tax act," by amending section 27
(MCL 211.27), as amended by 2019 PA 116.
The following people submitted a card with a neutral position on HB 4812, but did not wish
to speak:
Judy Allen, representing the Michigan Townships Association.
Chris Hackbarth, representing the Michigan Municipal League.
Peter Morman, representing the Michigan Department of Treasury.
The following person submitted a card in support of HB 4812, but did not wish to speak:
Sandy Pearson, representing Habitat for Humanity.
Representative Griffin moved to adopt substitute (H-1) to HB 4812. The motion prevailed 9-
1-1:
FAVORABLE ROLL CALL
Yeas: Reps. Farrington, Wakeman, Griffin, Reilly, O'Malley, Clemente, Camilleri, Scott,
Young.
Nays: Rep. Carra.
Pass: Rep. Rogers.
Representative Clemente moved to report out HB 4812 with recommendation, as substitute
(H-1). The motion prevailed 8-2-1:
FAVORABLE ROLL CALL
Yeas: Reps. Farrington, Wakeman, Griffin, O'Malley, Clemente, Camilleri, Scott, Young.
Nays: Reps. Reilly, Carra.
Pass: Rep. Rogers.
The Chair laid HB 4618 and HB 4619 before the committee:
HB 4618
(Rep. Haadsma)
A bill to amend 1998 PA 434, entitled "Uniform
voidable transactions act," by amending sections
1, 4, 5, and 10 (MCL 566.31, 566.34, 566.35, and
566.40), as amended by 2016 PA 552.
HB 4619
(Rep. Haadsma)
A bill to amend 2008 PA 148, entitled "Personal
property trust perpetuities act," by amending
sections 2 and 3 (MCL 554.92 and 554.93), as
amended by 2012 PA 484.
Representative Haadsma, testified in support of HB 4618 and HB 4619.
James Spica and Robert Tiplady, representing the Probate and Estate Planning Section of the
State Bar of Michigan, testified in support of HB 4618 and HB 4619.
The following people submitted a card with no position on HB 4618, but did not wish to
speak:
Haleigh Krombeen, representing the Michigan Credit Union League.
Patricia Herndon, representing the Michigan Bankers Association.
Paul Anderson and Peter Lemmer, representing Greenstone Farm Credit Services, gave an
overview presentation to the committee. Questions and discussion followed.
There being no further business before the committee, Rep. Diana Farrington adjourned the
meeting at 12:59 PM.
Representative Diana Farrington, Chair
Edward Sleeper
Committee Clerk
esleeper@house.mi.gov