MI HB4268

Expands pawnbroker licensing to apply to all persons conducting pawnbroker business in Michigan, removing the prior limitation to "certain governmental units."

Requires pawnbrokers to electronically transmit transaction information within 48 hours to the Department of State Police, including item descriptions, serial numbers, loan amounts, and seller identification details.

Establishes a statewide electronic database operated by the Department of State Police (or contracted third-party provider) to compile pawnbroker, precious metal dealer, and secondhand dealer transaction data, accessible only to law enforcement.

Creates an exemption for internet drop-off stores meeting specific conditions including exclusive internet transactions, public website availability searchable by zip code, non-cash payment requirements, and cooperation with local police.

Sets annual pawnbroker license fees between $50 and $500 per location, requires a $3,000 bond with two sureties, and limits county issuance authority in municipalities over 3,000 population; takes effect 90 days after enactment, contingent on passage of HB 4266 and HB 4267.