The bill amends the Occupational Code, specifically sections 725 and 727a, to update the requirements for obtaining a certificate as a certified public accountant (CPA) in Michigan. Key changes include the adjustment of educational requirements, where candidates must complete a minimum of 150 semester hours of college education until December 31, 2026, and then a reduced requirement of 120 semester hours starting January 1, 2027. Additionally, the bill specifies that applicants must have one year of verified qualifying experience in various accounting-related fields, and it clarifies that nonprofessional and paraprofessional work will not count towards this experience.

Furthermore, the bill outlines the practice privileges for individuals whose principal place of business is outside Michigan, allowing them to practice public accountancy without needing a Michigan certificate or license if they hold a valid CPA license from another jurisdiction with equivalent requirements. This includes holding a degree with the specified semester hours and passing the uniform CPA exam. The bill also ensures that individuals providing professional services remotely are granted practice privileges in Michigan without additional notice or fees, while still being subject to certain state requirements.

Statutes affected:
House Introduced Bill: 339.725, 339.727