MI HB5147

Amends Michigan Penal Code sections 315a and 376a to exempt loan promotion raffles and savings promotion raffles from gambling and lottery crime provisions.

Exemption applies to raffles conducted by domestic credit unions, state banks, federally chartered credit unions, national banks, and federally chartered savings and loan associations, provided they follow the same procedures as credit union raffles under MCL 490.411.

Takes effect 90 days after enactment into law.

Conditional effectiveness: bill does not take effect unless House Bill No. 5022 and either Senate Bill No. ____ or House Bill No. 5251 are also enacted into law.