MI SB0650

Amends the definition of "financial institution" in the Home Rule City Act to provide a standalone definition rather than referencing the Michigan Strategic Fund Act, defining it as state or nationally chartered banks, savings and loan associations, savings banks, or credit unions with federally insured deposits and offices in Michigan

Makes technical language updates throughout section 4q, changing "upon" to "on," "at least" to "not less than," "within" to "not later than," and "when" to "if" in various provisions

Maintains existing provisions allowing cities with populations of 7,500+ (or 3,300+ in counties with 1,500,000+ population) to establish administrative hearings bureaus to adjudicate blight violations with civil fines up to $10,000

Preserves exemptions from criminal penalties for government-sponsored enterprises, financial institutions, mortgage servicers, and credit union service organizations that acquire property through foreclosure

Tied to Senate Bill 631 of the 103rd Legislature; this amendatory act does not take effect unless SB 631 is enacted into law