State Rep. Matt Maddock, of Milford, this week introduced legislation allowing people more peace of mind when it comes to renewing driver’s licenses and registration for their vehicles.
House Bill 5171 will allow financial institutions to perform such tasks.
Maddock, who chairs a House Appropriations subcommittee related to transportation, pointed to long waiting times at SOS offices and the ability to accomplish multiple things at one place for those who regularly go into their local bank or credit union as reasons for a practical update to current law.
“I often talk to people who voice their frustrations with going to the Secretary of State. There are over 3 million registered vehicles in Michigan. That’s a lot of information to process and it’s tasked to one department,” Maddock said. “We can alleviate some of the burden on the SOS by allowing financial institutions to do this work. This bill doesn’t require anyone to go to their bank for the registration process. It merely offers people another avenue to get these things done and maybe save a little time along the way.”
Financial institutions choosing to offer such services for a fee will be required to document their total number of renewals. Based off that number, a dollar amount would be given to the state treasurer that would be equal to what the Secretary of State would normally charge. This money would be deposited into the Michigan transportation fund and mitigate the concern of any lost revenue for the state.
HB 5171 has been referred to the House Transportation Committee for consideration.
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