MI SB0040

Creates a land exchange facilitation and management fund in the state treasury to be administered by the Department of Natural Resources and funded from any source, with money and earnings carried over annually rather than reverting to the general fund.

Authorizes fund use for purchasing land for natural resources management that meets needs in the legislatively-approved strategic plan, costs of land transactions (appraisals, surveys, closings), environmental assessments, and costs of managing natural resources for public recreation activities.

Removes requirement that the Michigan Natural Resources Trust Fund Board authorize land purchases, allowing the department to purchase land independently if it meets strategic plan requirements.

Changes payment deadlines and penalty provisions for property tax assessments on state-owned lands, requiring department certification by November 1 and state treasurer payment by December 1, with 5% monthly penalties for late submissions beginning in 2014.

Increases commercial forestland payments from $1.20 per acre to $1.25 per acre, with automatic 5-cent increases every 5 years beginning January 1, 2017, and requires state to make full annual payments to all assessing districts and counties.