MI SB0652

Amends Michigan's property tax law to exempt qualified forest property from local school district operating taxes, with exemption limits increasing from 300,000 acres in fiscal year 2008 to 1,200,000 acres by fiscal year 2011 and thereafter.

Requires property owners to obtain a forest management plan from a qualified forester, submit a digital copy with a $50 application fee to the Department of Agriculture and Rural Development by September 1, and have a recorded qualified forest school tax affidavit filed with the register of deeds to claim the exemption.

Limits exemptions to a maximum of 640 acres per property owner per local tax collecting unit and imposes a 2-mill fee on exempt qualified forest property, with collected fees deposited into the private forestland enhancement fund.

Requires property owners to report annual forest practices and timber harvests; imposes a $5 per day penalty (up to $1,000) for failing to file rescission forms within 90 days when property no longer qualifies, and a $500 fine for unreported harvests.

Creates a new section 7vv establishing transitional qualified forest property exempt from property taxes for up to 5 years while subject to a specific tax under the transitional qualified forest property specific tax act; bill's effectiveness is conditioned on concurrent enactment of Senate Bills 651 and 653.