MI SB0575

Increases filing fees for municipalities seeking department approval to issue municipal securities from 0.03% to 0.04% of principal amount, with minimum fee rising from $800 to $1,600 and maximum from $2,000 to $4,000

Raises late fees for submitting qualifying statements more than 6 months after fiscal year end from $100 to $200, and applies the late fee to each application rather than only the first

Increases post-issuance filing fees for qualified municipal securities from 0.02% to 0.03% of principal amount, with minimum rising from $100 to $200 and maximum from $1,000 to $2,000

Requires annual inflation adjustments to all filing fees and late fees beginning January 1, 2026, based on the inflation rate defined in the general property tax act

Updates statutory references from the local government and school district fiscal accountability act to the local financial stability and choice act (2012 PA 436)