MI SB0482

Amends the definition of "qualified forester" in Michigan's general property tax act to include natural resources professionals and conservation district foresters, removing reference to registered foresters as a separate category.

Allows forest property owners to claim school operating tax exemptions on up to 320 acres per local tax collecting unit if the property meets qualified forest property requirements and has an approved forest management plan.

Establishes statewide acreage caps for the exemption: 300,000 acres by fiscal year 2008, 600,000 acres by 2009, 900,000 acres by 2010, and 1,200,000 acres by 2011 and thereafter.

Requires property owners to file affidavits and forest management plans with local tax collectors by December 31 and to file rescission forms within 90 days if property no longer qualifies, with penalties of $5 per day up to $1,000 for non-compliance.

Qualifies forest property must be at least 20 contiguous acres with 80% productive forest capable of producing wood products, contain no buildings or structures, and be stocked with forest products.

Bill takes effect only if Senate Bill 481 of the 97th Legislature is enacted into law.