HB 5728 Summary

• Amends the Michigan Liquor Control Code to allow the liquor control commission to offer a cash buyback program for spirits ordered before March 16, 2020.

• Eligible licensees include those holding Class C, B-Hotel, G-1, Club, Continuing Care Retirement Center, Aircraft, Watercraft, and Train licenses.

• The commission advances 100% of the purchase price for spirits in a licensee's inventory if the licensee opts into the buyback program by 5 p.m. on April 26, 2020.

• Upon advancing cash, the commission holds legal title to the spirits but does not take physical possession unless the licensee does not repay the full buyback amount.

• A licensee may repay the advanced funds at any time before the commission takes physical possession to regain title to the spirits; the commission may take possession 90 days after the state of emergency (Executive Order 2020-4) expires.