MI SB1059

Increases the acreage cap for qualified forest property exemption from school operating taxes from 1,200,000 acres to 2,400,000 acres beginning in fiscal year 2011.

Establishes a new application and approval process for qualified forest property exemptions requiring property owners to submit digital forest management plans, applications, and $200 fees to the Department of Agriculture and Rural Development rather than local assessors.

Modifies forest management plan requirements to minimum 30-year plans developed by qualified foresters, with approval based solely on compliance with specified elements including property description, owner objectives, maps, forest practices, and soil conservation measures.

Allows owners of property enrolled as qualified forest property before January 1, 2013 to execute new qualified forest school tax affidavits between January 1 and September 30, 2013, with ability to rescind existing exemptions without penalty and without triggering recapture tax liability.

Lowers minimum acreage requirement from 20 contiguous acres to 10 contiguous acres and reduces required forest stocking from 80% to 50% of productive forest capable of producing forest products.