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MI HB5924
Bill
Status
6/25/2020
Primary Sponsor
James Lower
Click for details
AI Summary
HB 5924 Summary
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Amends the Shared Credit Rating Act to authorize the Michigan Finance Authority to establish and operate a short-term state financing program for property tax deferrals.
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Allows the authority to make interest-free loans to counties for distribution to eligible taxing authorities for deferral of summer 2020 property taxes under section 44f of the General Property Tax Act.
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Terms of short-term loans and repayment provisions are to be determined by the state treasurer.
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Defines "eligible taxing authority" and "summer 2020 property taxes" by reference to section 44f of the General Property Tax Act, MCL 211.44f.
Legislative Description
State financing and management: other; payment to counties for property tax payment; allow the Michigan finance authority to finance. Amends sec. 7 of 1985 PA 227 (MCL 141.1057) & adds sec. 16e.
State financing and management: other
Last Action
Bill Electronically Reproduced 06/25/2020
7/21/2020