Michigan Governor Rick Snyder has signed HB 4563, providing a new reporting exemption for unclaimed property in the state of Michigan.
Updated: May 8, 2012
The Michigan Senate has passed HB 4563 with amendments, and the House has approved the changes. The new version provides for an exemption only for accounts receivable properties and not outstanding payables. The amendment also clarifies that it is only for credits that appear after April 1, 2009.