Michigan 2025-2026 Regular Session Status: Introduced 1 D cosponsors

HB 5994 — Insurance: other; processing fees; allow premium finance companies to collect. Amends sec. 1510 of 1956 PA 218 (MCL 500.1510).

Last action — bill electronically reproduced 05/19/2026

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the House. Introduced May 20, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Not enough signal yet

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill allows premium finance companies to collect processing fees for electronic payments.

This legislation amends the insurance code to permit premium finance companies to charge fees for accepting electronic payments, under certain conditions. It sets guidelines for how these fees can be imposed and requires companies to notify insured individuals about these fees before transactions.

What this means for you
  • Workers: For workers using premium finance, the bill means there could be added costs when paying via card or electronic methods.

Summary

Insurance: other; processing fees; allow premium finance companies to collect. Amends sec. 1510 of 1956 PA 218 (MCL 500.1510).

Bill Text

Action History

  1. bill electronically reproduced 05/19/2026

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 146 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (146)

146 members have not signed on to this bill.

Show all 146 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance health-insurance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 5994 do?
Insurance: other; processing fees; allow premium finance companies to collect. Amends sec. 1510 of 1956 PA 218 (MCL 500.1510).
Who sponsors HB 5994?
HB 5994 is sponsored by Will Snyder (Democrat).
What is the current status of HB 5994?
This bill has been introduced in the House. Introduced May 20, 2026. It must pass committee before a floor vote.
Where can I track HB 5994?
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Last checked for changes 3 months ago · updated continuously

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