MI SB0915

Expands felony offenses related to vehicle title and registration fraud to include fraudulently indicating on a certificate of title that there is no security interest on record for a vehicle.

Adds forging or counterfeiting a letter from a security interest holder stating that a security interest has been released as a felony offense.

Establishes enhanced penalties for repeat offenses: second violations punishable by 2-7 years imprisonment or $1,500-$7,000 fine; third or subsequent violations punishable by 5-15 years imprisonment or $5,000-$15,000 fine.

Requires persons convicted of fraudulently indicating no security interest or forging security interest release letters to pay restitution to the security interest holder equal to the outstanding lien amount.

Effective 91 days after final adjournment of the 2014 Michigan Regular Session; approved by Governor September 30, 2014.