MI HB4666

Allows automatic renewal of development rights agreements for farmland upon written owner request if all requirements have been met, with renewal terms of at least 7 years.

Permits relinquishment of up to 2 acres (or 5 acres if needed to encompass all buildings) containing pre-existing structures or for construction of a residence essential to farm operation, with approval from local governing body and state land use agency.

Requires state land use agency to place a lien on relinquished property for tax credits received in the last 7 years plus 6% annual interest, unless the property enters an agricultural conservation easement or purchase of development rights agreement.

Establishes discounted lien payment periods: 85% of face value from July 1 through September 30, 2011, and 90% of face value from October 1, 2011 through March 31, 2012 for liens recorded before January 1, 2011.

Exempts farmland from liens if it becomes subject to agricultural conservation easements or purchase of development rights agreements, or upon automatic relinquishment under those programs.