MI HB5755

Increases the threshold for felony larceny from $1,000 to $2,000 for property stolen valued at $2,000 or more but less than $20,000, with penalties of up to 5 years imprisonment or $10,000 fine or 3 times the stolen property value, whichever is greater.

Increases the threshold for misdemeanor larceny from $200 to $500 for property stolen valued at $500 or more but less than $2,000, with penalties of up to 1 year imprisonment or $2,000 fine or 3 times the stolen property value, whichever is greater.

Increases the minor larceny threshold from less than $200 to less than $500, with penalties of up to 93 days imprisonment or $500 fine or 3 times the stolen property value, whichever is greater.

Maintains felony larceny penalties of up to 10 years imprisonment for property valued at $20,000 or more, and for repeat offenders with 2 or more prior larceny convictions.

Takes effect 90 days after enactment and applies only to violations committed on or after the effective date; contingent on passage of related legislation (Senate or House Bill referenced as request no. 05590'16).