SUMMARY OF BILL
REPORTED FROM COMMITTEE
House Bill 6422 (as reported without amendment)
Sponsor: Representative Klint Kesto
House Committee: Law and Justice
Senate Committee: Government Operations
CONTENT
The bill would amend the Marihuana Tracking Act to allow a licensee, in writing, to authorize the Department of Licensing and Regulatory Affairs to disclose the licensee's information in the statewide tracking system to a financial institution identified in the authorization. After receiving the authorization, LARA would have to disclose the licensee's information to the identified financial institution.
"Financial institution" would mean that term as defined in the Medical Marihuana Facilities Licensing Act.
MCL 333.27902 & 333.27904 Legislative Analyst: Jeff Mann
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Date Completed: 12-13-18 Fiscal Analyst: Elizabeth Raczkowski
This 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.