MI HB5487

Requires online marketplaces to collect bank account information, contact details, tax identification numbers, and email/phone numbers from high-volume third-party sellers (those with 200+ sales or $5,000+ in annual revenue within 12 months) within 10 days of qualifying.

Mandates online marketplaces verify collected seller information within 10 days and annually notify sellers to keep their information current, with sellers required to certify updates or confirm no changes within 10 days.

Requires high-volume third-party sellers with $20,000+ in annual gross revenue to disclose their full identity (name, physical address, contact information) to consumers in order confirmation and transaction history; allows partial disclosure for home-based businesses or those without business phone numbers.

Mandates online marketplaces display a reporting mechanism on product listings allowing consumers to report suspicious activity electronically or by telephone, and suspends seller activity for non-compliance with disclosure requirements after 10-day notice period.

Enforcement limited exclusively to the Michigan Attorney General; prohibits local political subdivisions from imposing additional verification or disclosure requirements on online marketplaces or sellers; effective January 1, 2023.