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MI SB1287
Bill
AI Summary
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Amends the Qualified Forest Property Recapture Tax Act to redirect recapture tax proceeds from the state general fund to the private forestland enhancement fund effective January 1, 2013.
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Requires the local tax assessor to notify the county treasurer when qualified forest property is converted through a change in use.
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Proceeds collected before January 1, 2013 continue to go to the state general fund, while all collections after December 31, 2012 are credited to the private forestland enhancement fund under MCL 324.51305.
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Takes effect only if Senate Bills 1057, 1058, 1059, 1061, and 1062, and House Bills 4302, 4969, and 4970 are all enacted into law.
Legislative Description
Property tax; classification; allocation of qualified forest property recapture tax; modify. Amends sec. 5 of 2006 PA 379 (MCL 211.1035). TIE BAR WITH: HB 4302'11, HB 4969'11, HB 4970'11, SB 1057'12, SB 1058'12, SB 1059'12, SB 1061'12, SB 1062'12
Agriculture, other
Last Action
Referred To Second Reading
12/4/2012