MichiganBill would revise rules for authority pledges and bonds
If House Bill 6347 becomes law, bond owners would be treated as agreeing that authority bonds can be traded under commercial code rules.
What it does
The bill would revise rules for the authority's pledges and bonds, including how bond owners agree that bonds are negotiable under commercial code rules. It would take effect only if House Bill 6347 becomes law.
Argument forBond owners might have more certainty that accepting an authority bond means agreeing it can be traded under commercial code rules.
Argument againstPeople with claims against the authority might be affected by a pledge lien even if they did not know about it or the pledge was not recorded.
More detail
The bill would revise rules for authority pledges and bonds. These provisions concern revenue or other security pledged by the authority and bonds it issues. The bill would take effect only if House Bill 6347 is enacted into law. The bill would take effect only if House Bill 6347 is enacted into law.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 29bill electronically reproduced 09/24/2026Latest
- Sep 24referred to Committee on FinanceMinor
- Sep 24read a first timeMinor
- Sep 24introduced by Representative Rep. Douglas WozniakIntroduced
Economy & Jobs