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MI SB0054
Bill
AI Summary
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Modifies the allocation of recapture tax collected on qualified forest property that changes use under the 2006 Forest Property Tax Law.
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Directs recapture tax proceeds collected before January 1, 2014 to the state general fund.
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Directs recapture tax proceeds collected after December 31, 2013 to the Private Forestland Enhancement Fund established under the Natural Resources and Environmental Protection Act.
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Requires local assessors to notify the treasurer when property undergoes a change in use triggering the recapture tax.
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Takes effect June 1, 2013 (approved June 5, 2013).
Legislative Description
Property tax; classification; allocation of qualified forest property recapture tax; modify. Amends sec. 5 of 2006 PA 379 (MCL 211.1035).
Agriculture, other
Last Action
Assigned Pa 0043'13 With Immediate Effect
6/11/2013