Advocacy News – Sept. 21, 2022
The MI Chamber testified this week in support of a bill clarifying certain exemptions when reporting requirements on property titles for utility infrastructure easements and including exemptions for environmental restrictive covenants.
The Marketable Record Title Act was intended to help make the process of insuring or providing financial assistance to properties easier by consistently updating a title’s chain of custody. But for utility infrastructure easements with records that often date back mutliple decades, or environmental restrictive covenants that were set into place for perpetuity unless remediation occurs, this can wreak havoc.
The updated language — in House Bill 6370 sponsored by Rep. Roger Hauck — is key to helping ensure public health and that the provisions remain intact and aren’t lost to clerical issues or the passage of time or generate unwieldy reporting compliance costs.
The bill was voted out of the House Regulatory Reform Committee and referred to the House floor.
For more information or questions, contact Mike Alaimo at malaimo@michamber.com.