SUSPICIOUS ACTIVITY REPORTS H.B. 4997-5000: FLOOR ANALYSIS




House Bills 4997 through 5000 (as reported without amendment)
Sponsor: Representative Tupac Hunter (H.B. 4997) Representative Ed Clemente (H.B. 4998) Representative Joe Hune (H.B. 4999) Representative Kevin Green (H.B. 5000)
House Committee: Banking and Financial Services
Senate Committee: Banking and Financial Institutions

CONTENT
House Bills 4997 through 5000 would amend various statutes to repeal sections that require banks, domestic credit unions, savings banks, and savings and loan associations that file a suspicious activity report with an agency of the Federal government to file a copy of the report with the Department of State Police within 24 hours.


House Bill 4997 would amend the Savings Bank Act; House Bill 4998 would amend the Savings and Loan Act; House Bill 4999 would amend the Credit Union Act; and House Bill 5000 would amend the Banking Code.


MCL 487.3514 (H.B. 4997) Legislative Analyst: Patrick Affholter 491.1135 (H.B. 4998) 490.307 (H.B. 4999) 487.14406 (H.B. 5000)

FISCAL IMPACT
The bills would have no fiscal impact on State or local government.


Date Completed: 10-12-05 Fiscal Analyst: Bruce Baker

Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. hb4997-5000/0506