MichiganBill would describe Michigan revenue bonds as commercial code instruments
Michigan revenue bonds would be described as negotiable instruments under the state’s commercial code, if House Bill 6347 also becomes law.
What it does
The bill would describe revenue bonds as negotiable instruments under Michigan’s commercial code. It would take effect only if House Bill 6347 becomes law.
Argument forUsing commercial code rules could give bond holders a familiar way to handle or transfer revenue bonds.
Argument againstApplying commercial code rules could change how bond holders handle or transfer bonds, which might affect their expectations.
More detail
The bill would describe revenue bonds as negotiable instruments for purposes of the Uniform Commercial Code. This applies to bonds under Michigan’s Revenue Bond Act of 1933. The bill would take effect only if House Bill 6347 of the 103rd Legislature is enacted into law. The bill has no separate effective date stated; it 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. Amos O'NealIntroduced
Economy & Jobs