SENATE BILL No. 837

November 29, 2001, Introduced by Senator EMERSON and referred to the Committee on

Finance.

A bill to amend 1995 PA 280, entitled

"An act to authorize local units of government to accept finan-

cial transaction device payments,"

by amending section 1 (MCL 129.221).

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 Sec. 1. As used in this act:

2 (a) "Credit card" means a card or device issued by a person

3 licensed under Act No. 379 of the Public Acts of 1984, being

4 sections 493.101 to 493.114 of the Michigan Compiled Laws 1984

5 PA 379, MCL 493.101 TO 493.114, or under the consumer financial

6 services act, Act No. 161 of the Public Acts of 1988, being sec-

7 tions 487.2051 to 487.2072 of the Michigan Compiled Laws 1988

8 PA 161, MCL 487.2051 TO 487.2072, or issued by a depository

9 financial institution as defined in section 1a of the mortgage

10 brokers, lenders, and servicers licensing act, Act No. 173 of

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1 the Public Acts of 1987, being section 445.1651a of the Michigan

2 Compiled Laws 1987 PA 173, MCL 445.1651A, under a credit card

3 arrangement.

4 (b) "Credit card arrangement" means an unsecured extension

5 of credit for purchasing goods or services from the credit card

6 issuer or any other person that is made to the holder of a credit

7 card and that is accessed with a credit card.

8 (c) "Financial transaction device" means any of the

9 following:

10 (i) An electronic funds transfer card.

11 (ii) A credit card.

12 (iii) A debit card.

13 (d) "Governing body" means any of the following:

14 (i) The council, commission, or other entity vested with the

15 legislative power of a village.

16 (ii) The council or other entity vested with the legislative

17 power of a city.

18 (iii) The township board of a township.

19 (iv) The county board of commissioners of a county.

20 (v) The board of county road commissioners of a county.

21 (vi) The board of education of a local school district.

22 (vii) The board of education of an intermediate school

23 district.

24 (viii) The board of trustees of a community college

25 district.

26 (ix) The official body to which is granted general governing

27 powers over an authority or organization of government

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1 established by law which may issue obligations pursuant to the

2 municipal finance act, Act No. 202 of the Public Acts of 1943,

3 being sections 131.1 to 139.3 of the Michigan Compiled Laws

4 REVISED MUNICIPAL FINANCE ACT, 2001 PA 34, MCL 141.2101 TO

5 141.2821, and which may expend funds of the authority or

6 organization.

7 (e) "Local school district" means a school district orga-

8 nized under the REVISED school code, of 1976, Act No. 451 of the

9 Public Acts of 1976, being sections 380.1 to 380.1852 of the

10 Michigan Compiled Laws 1976 PA 451, MCL 380.1 TO 380.1852, or a

11 district governed by a special or local act.

12 (f) "Local unit" means any of the following:

13 (i) A village.

14 (ii) A city.

15 (iii) A township.

16 (iv) A county.

17 (v) A county road commission.

18 (vi) A local school district.

19 (vii) An intermediate school district.

20 (viii) A community college district.

21 (ix) An authority or organization of government established

22 by law which may issue obligations pursuant to Act No. 202 of

23 the Public Acts of 1943 UNDER THE REVISED MUNICIPAL FINANCE ACT,

24 2001 PA 34, MCL 141.2101 TO MCL 141.2821, and which may expend

25 funds of the authority or organization.

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