MI HB4136

Amends Michigan's delinquent tax revolving fund law to clarify county treasurer authority to issue delinquent tax revenue notes under the 1933 Revenue Bond Act.

Allows counties to issue delinquent tax revenue notes in amounts not exceeding: the pledged delinquent taxes, a note reserve fund up to 15% of borrowing, and costs of issuance.

Establishes that delinquent taxes remain property of local units and county treasurer serves as collection agent, with statutory lien automatically attaching to delinquent taxes and fund assets without need for recordation or filing.

Requires county board resolution and chief executive approval (in charter counties) to authorize issuance of delinquent tax revenue notes, specifying reserve amounts, security provisions, and excess tax allocations.

Took effect immediately upon Governor approval on May 4, 2017.