MI HB6181

Establishes a $5.00 fee for each transfer of title by a dealer, beginning January 1, 2026, to be deposited into a newly created motor vehicle sales finance act fund.

Authorizes the director of the department of insurance and financial services to adjust the dealer transfer fee (not to exceed $5.00) biennially starting July 1, 2028, based on the department's reasonably anticipated costs for administering the motor vehicle sales finance act.

Creates the motor vehicle sales finance act fund in the state treasury to receive and invest fees collected from dealer title transfers and other sources related to the motor vehicle sales finance act, with money remaining in the fund at fiscal year-end.

Designates the department of insurance and financial services as the administrator of the fund and authorizes it to expend fund money on appropriation for administering the motor vehicle sales finance act.

Bill takes effect only if House Bill No. 5354 is enacted into law.