MI SB0978

Amends the Tax Reverted Clean Title Act (2003 PA 260) to modify definitions and exemptions related to tax reverted property.

Defines "Authority" to include both land bank fast track authorities and redevelopment authorities created under the Land Bank Fast Track Act (2003 PA 258, MCL 124.751 to 124.774).

Establishes that eligible tax reverted property remains exempt from ad valorem property taxes under the General Property Tax Act (1893 PA 206).

Clarifies that eligible tax reverted property must be exempt under either section 7gg or section 7ll of the General Property Tax Act.

Passed by the Senate on June 8, 2010, with amendments to correct statutory cross-references in the property tax code.