MI HB5398

Authorizes foreclosing governmental units in counties to acquire property owned by the state, federal government, or other governmental entities with consent to facilitate tax reverted property sales under section 78m.

Permits property acquisition through methods including exchange of county-owned property for property of approximately equal value owned by state, federal, or governmental entities.

Allows land bank fast track authorities to convey real property to foreclosing governmental units with consent, including for no monetary consideration under the Land Bank Fast Track Act.

Requires property acquired by foreclosing governmental units to be offered for sale at property sales under section 78m and prohibits conveyance to cities, villages, townships, or counties; net proceeds must be deposited into delinquent tax property sales proceeds accounts.

Took immediate effect upon passage.