Bill > SB0745

This bill amends the Identity Theft Protection Act by updating and clarifying various definitions related to identity protection and financial institutions. The bill expands the definition of "agency" to explicitly include institutions of higher education while excluding certain courts, and modifies the definition of "security breach" to provide more specific criteria for when unauthorized data access does not constitute a breach. The bill significantly revises the definition of "financial institution" to include a broader range of entities such as depository institutions, affiliates, various licensed entities (including those under the motor vehicle sales finance act), sellers under specific finance acts, and entities subject to the Gramm-Leach-Bliley Act. Additionally, the bill makes numerous technical corrections throughout the definitions, such as standardizing capitalization (e.g., "Social Security" instead of "social security"), updating cross-references, and providing more precise language around terms like "false pretenses," "personal identifying information," and "personal information." The bill is tied to another piece of legislation (Senate Bill 739) and will only take effect if that bill is also enacted into law, suggesting these changes are part of a coordinated update to Michigan's identity protection and financial regulations.

Budget and Finance

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0745