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HB 6182

Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in 1995 PA 266. Amends sec. 1 of 1995 PA 266 (MCL 129.241). TIE BAR WITH: HB 6177'26

2025-2026 Regular Session Introduced by Greg Alexander and 3 co-sponsors

HB 6182 aligns licensing and definitions for mortgage-related and credit card activities, but its effect depends on passing HB 6177.

bill electronically reproduced 07/03/2026
#financialinstitutions:mortgagebrokersandlenders
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Bill Summary · HB 6182

Bill Summary: HB 6182 (Michigan, 2025-2026)

Main purpose and intent

  • HB 6182 is a Michigan bill introduced to amend 1995 PA 266, with the stated tie-bar to HB 6177. The proposed change appears to focus on conforming licensing and regulatory frameworks related to residential mortgage activity by consolidating certain licensing statutes and aligning related definitions and terms.

Key provisions and changes

  • Amendments to Section 1 of 1995 PA 266:
    • Redefines terms used in or related to the act, including:
    • Budget
    • Credit card
    • Credit card arrangement
    • Credit card policy
    • Governing body
    • Local school district
    • Local unit
    • The definitions reference licensing and regulatory roles across multiple entities, including:
    • Individuals or entities licensed under:
      • 1984 PA 379 (Credit-related activities)
      • Consumer Financial Services Act (1988 PA 161)
    • Mortgage-related licensing under the Residential Mortgage Licensing and Supervision Act (RMLSA), and related references to depository institutions.
    • The term “credit card” expressly includes:
    • Cards issued under licenses in the consumer finance and related acts
    • Depository institutions that are subject to the RMLSA (with a 6-month transition window after the effective date of the RMLSA)
    • Entities defined as depository institutions under the RMLSA
    • The enactment section notes that the amendment does not take effect unless HB 6177 from the 103rd Legislature is enacted into law. This indicates a tie-bar: the effectiveness of HB 6182 is contingent on HB 6177.

Who would be affected

  • Local units of government (villages, cities, townships, counties, road commissions, local school districts, ISDs, community colleges, and related authorities) that issue or manage budgets and use credit card arrangements.
  • Credit card issuers operating under:
    • 1984 PA 379
    • Consumer Financial Services Act (1988 PA 161)
    • Mortgage lenders/services under the Residential Mortgage Licensing and Supervision Act (RMLSA)
  • Depository financial institutions transitioning under the RMLSA (with a defined 6-month post-enactment window for certain aspects of credit card operations).
  • Governing bodies of local units in the contexts of budgeting and credit policies.

Procedural and timeline aspects

  • Procedural path:
    • Introduced July 3, 2026, and referred to the Committee on Finance.
    • Contains a tie-bar: the act’s effect is dependent on the passage and enactment of HB 6177 (requested in the same legislative package).
  • Effective date:
    • Not specified in HB 6182 itself; the act’s effective date is contingent on HB 6177 becoming law.
    • The credit card definitions include a six-month post-enactment window for certain depository institutions after the effective date of the RMLSA, indicating some transitional timing considerations for licensing and operations.

Potential impact overview

  • Aligns and consolidates licensing definitions and regulatory language related to residential mortgages and related credit activities.
  • Creates dependency on the passage of HB 6177, which may further govern licensing and regulatory structure for mortgage brokers and lenders.
  • Aims to facilitate clearer regulatory treatment of credit card arrangements used by local units and regulated entities, potentially simplifying compliance for local units and certain financial institutions during the transition to updated mortgage licensing regimes.
  • Could affect how local units structure budgets and credit card policies in light of revised definitions and licensing requirements.

Note: Because HB 6182’s operative provisions hinge on HB 6177, readers should also review HB 6177 to understand the full scope of regulatory changes and the timeline for any effective implementation.

Compiled from official sources — confirm details with the bill’s official record.

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