---
type: "Bill"
title: "Trade; securities; exemption from registration of certain securities issued by Michigan companies; revise. Amends secs. 202a & 451 of 2008 PA 551 (MCL 451.2202a & 451.2451)."
description: "Trade; securities; exemption from registration of certain securities issued by Michigan companies; revise. Amends secs. 202a & 451 of 2008 PA 551 (MCL 451.2202a & 451.2451)."
jurisdiction: "us/states/mi"
legislature: "Michigan Legislature"
session: "2017-2018"
identifier: "HB 4305"
citation: "Michigan HB 4305 (2017-2018)"
classification: ["bill"]
subjects: ["Trade: securities", "State agencies (existing): licensing and regulatory affairs"]
status: "enacted"
primary_sponsors: []
version_count: 5
action_count: 26
vote_count: 2
first_action: "2017-03-02T05:00:00+00:00"
last_action: "2017-10-31T04:00:00+00:00"
source: "openstates"
source_identifier: "ocd-bill/ae02f630-7f3d-4538-b222-34e898d2dc09"
source_url: "http://legislature.mi.gov/doc.aspx?2017-HB-4305"
source_hash: "8d9e4779dbbbafa0ab538122d79ebde32cd7af952108063db0932995c8b864fe"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-mi"]
---

# Michigan HB 4305 (2017-2018) — Trade; securities; exemption from registration of certain securities issued by Michigan companies; revise. Amends secs. 202a & 451 of 2008 PA 551 (MCL 451.2202a & 451.2451).

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **As Passed by the House** (committee substitute) — [source](http://www.legislature.mi.gov/documents/2017-2018/billengrossed/House/htm/2017-HEBH-4305.htm)
2. **As Passed by the Senate** (committee substitute) — [source](http://www.legislature.mi.gov/documents/2017-2018/billengrossed/House/htm/2017-HEBS-4305.htm)
3. **House Concurred Bill** (committee substitute) — [source](http://www.legislature.mi.gov/documents/2017-2018/billconcurred/House/htm/2017-HCB-4305.htm)
4. **House Introduced Bill** (committee substitute) — [source](http://www.legislature.mi.gov/documents/2017-2018/billintroduced/House/htm/2017-HIB-4305.htm)
5. **Public Act** (committee substitute) — [source](http://www.legislature.mi.gov/documents/2017-2018/publicact/htm/2017-PA-0141.htm)

## Votes

- passed; given immediate effect Roll Call # 125 Yeas 106 Nays 1 — **106–1** (pass) · lower
- PASSED; GIVEN IMMEDIATE EFFECT ROLL CALL # 398 YEAS 37 NAYS 0 EXCUSED 1 NOT VOTING 0 — **37–0** (pass) · upper

## Sponsors

- 57 — cosponsor (person)
- Bronna Kahle — cosponsor (person)
- Dave Pagel — cosponsor (person)
- Eric Leutheuser — cosponsor (person)
- Jim Ellison — cosponsor (person)
- Joseph Graves — cosponsor (person)
- Patrick Green — cosponsor (person)
- Peter Lucido — cosponsor (person)
- Robert Kosowski — cosponsor (person)
- Steve Marino — cosponsor (person)
- Tim Kelly — cosponsor (person)
- Tommy Brann — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2017-03-02T05:00:00+00:00** introduced by Representative Bronna Kahle `introduction`
- **2017-03-02T05:00:00+00:00** read a first time `reading-1`
- **2017-03-02T05:00:00+00:00** referred to Committee on Commerce and Trade `referral-committee`
- **2017-03-07T05:00:00+00:00** bill electronically reproduced 03/02/2017
- **2017-05-09T04:00:00+00:00** reported with recommendation without amendment `committee-passage`
- **2017-05-09T04:00:00+00:00** referred to second reading
- **2017-05-17T04:00:00+00:00** read a second time `reading-2`
- **2017-05-17T04:00:00+00:00** placed on third reading
- **2017-05-18T04:00:00+00:00** read a third time `reading-3`
- **2017-05-18T04:00:00+00:00** passed; given immediate effect Roll Call # 125 Yeas 106 Nays 1 `passage`
- **2017-05-18T04:00:00+00:00** transmitted
- **2017-05-23T04:00:00+00:00** REFERRED TO COMMITTEE ON COMMERCE `referral-committee`
- **2017-10-12T04:00:00+00:00** REPORTED FAVORABLY WITHOUT AMENDMENT `committee-passage`
- **2017-10-12T04:00:00+00:00** COMMITTEE RECOMMENDED IMMEDIATE EFFECT
- **2017-10-12T04:00:00+00:00** REFERRED TO COMMITTEE OF THE WHOLE `referral-committee`
- **2017-10-17T04:00:00+00:00** REPORTED BY COMMITTEE OF THE WHOLE FAVORABLY WITHOUT AMENDMENT(S) `committee-passage`
- **2017-10-17T04:00:00+00:00** PLACED ON ORDER OF THIRD READING
- **2017-10-18T04:00:00+00:00** PASSED; GIVEN IMMEDIATE EFFECT ROLL CALL # 398 YEAS 37 NAYS 0 EXCUSED 1 NOT VOTING 0 `passage`
- **2017-10-18T04:00:00+00:00** INSERTED FULL TITLE
- **2017-10-18T04:00:00+00:00** returned from Senate without amendment with immediate effect and full title
- **2017-10-18T04:00:00+00:00** full title agreed to
- **2017-10-18T04:00:00+00:00** bill ordered enrolled
- **2017-10-24T04:00:00+00:00** presented to the Governor 10/24/2017 @ 10:34 AM `executive-receipt`
- **2017-10-31T04:00:00+00:00** approved by the Governor 10/29/2017 @ 10:01 AM `executive-signature`
- **2017-10-31T04:00:00+00:00** assigned PA 141'17 with immediate effect
- **2017-10-31T04:00:00+00:00** filed with Secretary of State 10/30/2017 @ 3:26 PM

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/ae02f630-7f3d-4538-b222-34e898d2dc09`. Confidence: reported (aggregated from official Michigan legislature records).