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MI HB4901
Bill
Status
6/14/2022
Primary Sponsor
Kyra Bolden
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AI Summary
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Increases the maximum value threshold for watercraft eligible for simplified certificate of title transfer from a deceased owner from $100,000 to $300,000
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Implements annual cost-of-living adjustments to the $300,000 threshold beginning January 1, 2024, calculated using the Consumer Price Index and rounded to the nearest $1,000
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Directs the Department of Treasury to certify and publish the adjusted dollar amount each calendar year
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Corrects cross-references in the estates and protected individuals code from MCL 700.8102 to MCL 700.8206
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Takes effect 90 days after enactment into law
Legislative Description
Watercraft: other; watercraft eligible for issuance of certificate of title transferring deceased owner's interest; increase maximum value of, subject to Consumer Price Index. Amends sec. 80312 of 1994 PA 451 (MCL 324.80312).
State agencies (existing): state
Last Action
Referred To Committee Of The Whole With Substitute (s-1)
12/6/2022