MI HB6007

Exempts low-grade iron ore and iron ore mining property subject to 1951 PA 77 or 1963 PA 68 from tax collection under the General Property Tax Act, effective December 20, 2012.

Exempts all minerals, mineral rights, claims, leases, and options in minerals from tax collection beginning December 31, 2012, with exceptions for surface property, surface rights, surface improvements, and personal property at open mines.

Exempts mineral-producing property subject to the nonferrous metallic minerals extraction severance tax from tax collection under the General Property Tax Act.

Clarifies assessment roll procedures for real and personal property valuation, including provisions for separate assessment of mineral rights and surface rights when authorized.

Repeals former sections 6a and 6b of the General Property Tax Act; effective only upon enactment of House Bill 6008 of the 96th Legislature.