January 18, 2018, Introduced by Reps. Yanez, Byrd, LaGrand, Cambensy, Rabhi, Howrylak, Camilleri, Hammoud and Gay-Dagnogo and referred to the Committee on Regulatory Reform.


     A bill to amend 1861 PA 111, entitled


"An act relating to deposit accounts, and to interest, exchange and

commissions received or paid by the state treasurer,"


by amending sections 1 and 2 (MCL 21.181 and 21.182).




     Sec. 1. That it shall be the duty of the state treasurer to


keep the accounts of the treasurer with all banks or depositories


where any moneys of the state may be kept or deposited upon the


regular books of his office so that each item of all such accounts


shall appear therein.The state treasurer shall include in the


regular books of his or her office an itemization of each account


at a bank or other depository in which state money is kept or


deposited. As used in this subsection, "bank or other depository"


includes the community bank of Michigan established in section 5 of


the bank of Michigan act.


     Sec. 2. All The state treasurer shall include in the regular


books of his or her office a description of all items of interest


which may become due that are owed to the state from banks or


otherwise shall be entered on the books of the treasurer when those


items are received, in such manner that it shall appear upon what


including a description of the account from which and for what the


time such period in which that item of interest accrued.


     Enacting section 1. This amendatory act takes effect 90 days


after the date it is enacted into law.


     Enacting section 2. This amendatory act does not take effect


unless Senate Bill No.____ or House Bill No. 5431 (request no.


02494'17) of the 99th Legislature is enacted into law.