The bill amends the Michigan Code of Criminal Procedure by updating section 14p of chapter XVII, which pertains to specific felonies related to property and financial crimes. It introduces new legal language that categorizes various offenses, including the issuance of fraudulent bills of lading, false statements in money transmission services, and violations of the Money Transmission Modernization Act. The bill specifies the maximum penalties for these offenses, which are generally set at five years for most felonies listed, with some exceptions.

Additionally, the bill includes provisions that establish an effective date of January 1, 2026, and stipulates that it will only take effect if House Bill No. 5544 is also enacted into law. This legislative change aims to enhance the clarity and enforcement of laws related to financial fraud and property crimes in Michigan.

Statutes affected:
House Introduced Bill: 777.14