MI HB5734

Changes the administering agency from the Department of Licensing and Regulatory Affairs to the Department of Labor and Economic Opportunity.

Expands the definition of "fringe benefits" to include holidays, sick/injury time, paid vacation leave, bonuses, authorized expenses, and contributions made on behalf of employees.

Requires employers to pay employees all accrued but unused paid vacation leave upon separation from employment, effective January 1, 2025.

Exempts employers from paying accrued paid vacation leave if the separation is a furlough (shutdown lasting 30 days or less, or resulting from a declared state of emergency) or if the employer provided unlimited paid vacation leave.

Adds definitions for "furlough" and "paid time off" to the wage and fringe benefit payment law.