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Bill > HB4995
MI HB4995
MI HB4995Businesses: limited liability companies; annual statement fees under the Michigan limited liability company act; modify. Amends sec. 1101 of 1993 PA 23 (MCL 450.5101).
summary
Introduced
09/14/2023
09/14/2023
In Committee
09/26/2023
09/26/2023
Crossed Over
09/20/2023
09/20/2023
Passed
09/27/2023
09/27/2023
Dead
Signed/Enacted/Adopted
10/03/2023
10/03/2023
Introduced Session
102nd Legislature
Bill Summary
AN ACT to amend 1993 PA 23, entitled ?An act to provide for the organization and regulation of limited liability companies; to prescribe their duties, rights, powers, immunities, and liabilities; to prescribe the powers and duties of certain state departments and agencies; and to provide for penalties and remedies,? by amending section 1101 (MCL 450.5101), as amended by 2019 PA 70.
AI Summary
This bill modifies the Michigan Limited Liability Company Act by changing the annual statement fee for limited liability companies (LLCs). Specifically, it reduces the annual statement fee from $25 to $15 starting on October 1, 2027. Additionally, the bill includes provisions to waive the initial filing fee for LLCs if a majority of the initial membership interests are held by veterans, and it allows the state to waive other LLC fees if a majority of the membership interests are held by veterans. The bill also includes technical changes related to payment methods and handling of dishonored checks.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Assigned Pa 133'23 With Immediate Effect (on 10/03/2023)
Official Document
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