Michigan legislation · 103rd Legislature
Michigan HB6367: Commercial code: other; references to uniform commercial code in higher education loan authority act; revise. Amends sec. 9 of 1975 PA 222 (MCL 390.1159). TIE BAR WITH: HB 6347'26
Status: In committee, September 24, 2026
What the bill says
To amend 1975 PA 222, entitled "Higher education loan authority act," by amending section 9 (MCL 390.1159), as amended by 1987 PA 206.
From the introduced text, September 24, 2026:
A bill to amend 1975 PA 222, entitled "Higher education loan authority act," by amending section 9 (MCL 390.1159), as amended by 1987 PA 206. the people of the state of michigan enact: Sec. 9. (1) The authority shall is not be required to pay taxes on property owned by the authority under this act or upon on the income derived from the property. The bonds issued under this act, their the transfer of the bonds, and the income derived from the bonds, including a profit made on the sale of the bonds, shall be are exempt from taxation by the this state, a local unit of government or political subdivision, or other instrumentality of the this state, notwithstanding that the interest may be subject to federal income tax. (2) Bonds issued under this act and the interest coupons, if any, attached to the bonds shall be are fully negotiable and have all of the qualities incident to negotiable instruments under the uniform commercial code, Act No. 174 of the Public Acts of 1962, as amended, being sections 440.1101 to 440.11102 of the Michigan Compiled Laws, 1962 PA 174, MCL 440.1101 to 440.12501, subject only to the provisions for registration of the bonds which that may appear on the bonds. Enacting section 1. This amendatory act does not take effect …
Sponsors
- Tate, Joseph (D, 9) · primary sponsor
- Wozniak, Douglas (R, 59)
Latest actions
- : bill electronically reproduced 09/24/2026
- : referred to Committee on Finance
- : read a first time
- : introduced by Representative Rep. Joe Tate
Subjects: Commercial code: other
Common questions
- What is HB6367?
- HB6367 is a bill in the Michigan Legislature (103rd Legislature): Commercial code: other; references to uniform commercial code in higher education loan authority act; revise. Amends sec. 9 of 1975 PA 222 (MCL 390.1159). TIE BAR WITH: HB 6347'26.
- What does HB6367 do?
- In its own words: To amend 1975 PA 222, entitled "Higher education loan authority act," by amending section 9 (MCL 390.1159), as amended by 1987 PA 206.
- What is the status of HB6367?
- In committee as of September 24, 2026. Latest action: bill electronically reproduced 09/24/2026 (September 24, 2026).
- Who sponsored HB6367?
- Tate, Joseph (D, 9), with 1 co-sponsor.
- Where is the official record for HB6367?
- On the Michigan Legislature website: https://www.legislature.mi.gov/Bills/Bill?ObjectName=2026-HB-6367
Source: official Michigan record. Tracked by Delilah, AI for legislation across all 50 states and Congress.