Carra Greene, J. Weiss Young
DeSana Miller
In The Chair: Smit
The House agreed to the title of the bill.
Rep. Posthumus moved that the bill be given immediate effect.
The motion prevailed, 2/3 of the members serving voting therefor.
Rep. Young, having reserved the right to explain her protest against the passage of the bill, made the following statement:
“Mr. Speaker and members of the House:
I was in full support of the original bill, before the changes made in the H-2 substitute. Payroll processors aren’t money transmitters. Payroll Processors provide payroll services to employers by contract. Money transmitters move money from consumer to consumer on behalf of the consumer, like Venmo or CashApp. 27 out of 32 states have exempted payroll providers, either fully, partially, or by not mentioning them at all. The original bill before the adopted H2 sub had a limited exemption which all parties were in agreement with. DIFS has not licensed payroll processors in the last 30 years. There are some concerns that some small payroll processing companies could be put out of business because they don’t have the capacity of a Paychex or ADP. It is my hope these concerns will be addressed in the Senate.”
House Bill No. 5545, entitled
A bill to amend 1988 PA 161, entitled “Consumer financial services act,” by amending section 2 (MCL 487.2052), as amended by 2006 PA 252.
Was read a third time and passed, a majority of the members serving voting therefor, by yeas and nays as follows: