MI HB5947

Eliminates the 20% commission previously payable to county treasurers for services as agent in managing delinquent tax revolving funds.

Replaces the fixed commission structure with a variable payment based on interest collected: 1/27 of interest for delinquent taxes with interest exceeding 1% per month, and 3/64 of interest for taxes at 1% per month or less.

Caps total payments to the county treasurer's office at 5% of the treasurer's annual office budget for that year.

Allows counties to establish delinquent tax revolving funds through board resolution without voter approval and to issue revolving fund notes to finance these operations.

Notes issued under this provision may carry interest up to 14.5% per annum, mature within 6 years, and are backed by full faith and credit of the county with potential recourse to general property taxes if pledged delinquent tax collections prove insufficient.