MI HB5492

Expands larceny law to include "scrap metal" rather than limiting it to "nonferrous metal," replacing the specific definition of nonferrous metal with a reference to the Scrap Metal Regulatory Act definition.

Maintains existing penalty structure with felony charges for theft of $1,000 or more, misdemeanor charges for theft of $200-$999, and lower misdemeanor charges for theft under $200.

For scrap metal theft, establishes that "value" means the greatest of: replacement cost of stolen metal, cost of repairing damage caused by the theft, or the sum of both.

Allows aggregation of scrap metal stolen in separate incidents within any 12-month period under a scheme or course of conduct to determine total theft value for charging purposes.

Bill effectiveness is contingent upon passage of HB 5490 and HB 5491 in the 96th Legislature.