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MI SB1299
Bill
AI Summary
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Reduces county recording fees from $4.00 to $2.00 per instrument, effective January 1, 2023.
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Requires counties to remit recording fees quarterly to the state treasurer for deposit in the survey and remonumentation fund, with counties retaining up to 1-1/2% of collected fees for administrative costs.
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Allows counties with unreimbursed expedited survey and remonumentation expenditures exceeding $1,500,000 to retain all collected fees until the balance reaches zero, with retained funds used for perpetual monument maintenance plans and reimbursement of expedited costs.
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Exempts state agencies, federal agencies, and certain recording activities (tax liens, employment security liens, UCC filings, foreclosures) from the recording fee requirement.
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Bill effectiveness is contingent on enactment of Senate Bill No. 1300 of the 96th Legislature.
Legislative Description
Counties; financing; retention of certain recording fees, otherwise deposited in state survey and remonumentation fund; allow for certain counties as reimbursement for cost of expediting survey and remonumentation plan. Amends sec. 2567a of 1961 PA 236 (MCL 600.2567a). TIE BAR WITH: SB 1300'12
State financing and management, funds
Last Action
Referred To Committee Of The Whole With Substitute S-1
11/27/2012