MI HB6292

Increases the maximum acreage of qualified forest property eligible for school operating tax exemption from 320 acres to 640 acres per owner in each local tax collecting unit.

Establishes a statewide acreage cap that phases in over four years: 300,000 acres (fiscal year 2008), 600,000 acres (2009), 900,000 acres (2010), and 1,200,000 acres (2011 and thereafter).

Requires owners to file a $25 application fee with an affidavit claiming the exemption and either an approved forest management plan or third-party certification by December 31 annually.

Modifies reporting requirements so owners report timber production to the local assessor rather than the Department of Natural Resources, with copies forwarded to the Department of Treasury.

Removes the requirement that qualified forest property have no buildings or structures, allowing exemption for forest property regardless of structures present on the land.