The bill amends the Michigan Penal Code, specifically section 174a, to enhance protections against financial exploitation of vulnerable adults. It establishes that individuals who fraudulently obtain or attempt to obtain a vulnerable adult's money or property can be prosecuted for their actions both during the adult's life and after their death if they continue to exploit the estate. The bill introduces new penalties based on the value of the money or property involved, with varying degrees of misdemeanors and felonies depending on the amount and the offender's prior convictions.

Additionally, the bill clarifies the aggregation of values for offenses committed against a vulnerable adult, allowing for the total value of exploited assets to be calculated from both the adult's life and after their death. It also specifies that prior convictions can enhance sentencing but cannot be used to further increase penalties for other offenses. The bill includes provisions for financial institutions and their employees, ensuring they are not penalized for actions taken in the normal course of business. The amendments are set to take effect 90 days after being enacted into law.

Statutes affected:
Senate Introduced Bill: 750.174