MI HB4969

Amends the commercial forest property program (Part 511) by allowing owners of 40+ contiguous acres (previously 160 acres) to apply for commercial forest designation, with existing commercial forestland grandfathered in.

Creates a new "qualified forest property" tax exemption program (Part 514) allowing owners of 10+ contiguous acres of productive forest to claim property tax exemptions if they maintain a forest management plan and conduct commercial harvests within 30 years.

Establishes requirements for qualified forest properties including mandatory 10-year audits by qualified foresters, harvest reporting, restrictions on residential buildings (limited to structures with fewer than 5 residential amenities), and penalties for noncompliance including recapture taxes.

Sets application fees ($200 for qualified forest properties) deposited into a new Qualified Forest Fund, and implements withdrawal procedures for commercial forest properties with penalty calculations based on county location and years of designation.

Effective only upon enactment of HB 4970 and HB 4302 (companion bills establishing recapture tax provisions).