MI SB1022

Requires assessing districts to submit property tax statements to counties by January 1 annually, with a 5% monthly penalty for late submissions beginning in 2014.

Mandates state payment in full to all local assessing districts beginning in 2013, with delinquent amounts subject to penalties and interest as of 2014.

Directs payment charging for school district, intermediate school district, and community college assessments to the state school aid fund, with remaining amounts charged to Department of Natural Resources restricted revenue or general fund.

Allows payments for properties purchased with Michigan natural resources trust fund to be charged entirely against that trust fund instead of multiple fund sources.

Increases annual commercial forest land payments from $1.20 per acre to $1.25 per acre beginning January 1, 2012, with an additional 5-cent increase every 5 years thereafter.