MI SB0676

Amends section 78m of the General Property Tax Act regarding the sale of tax-foreclosed property by establishing a right of first refusal for the state, followed by cities, villages, townships, and county authorities to purchase foreclosed properties.

Requires foreclosing governmental units to hold property sales between the third Tuesday in July and first Tuesday in November following judgment, with auctions conducted individually or in groups, including the option for internet-based sales.

Establishes a restricted "delinquent tax property sales proceeds" account with a specified priority order for distributing proceeds: reimbursement to delinquent tax revolving funds, payment of foreclosure-related fees, payments to claimants of remaining proceeds, and transfer to the land reutilization fund for surplus balances.

Requires purchasers to execute an affidavit under penalty of perjury certifying they do not hold more than minimal legal interest in other delinquent properties in the same county and are not responsible for unpaid civil fines related to code violations.

Mandates the state treasury and non-state foreclosing units to submit detailed reports by September 30 of the second calendar year after foreclosure documenting property sales, proceeds, and distributions, with reporting requirements ending December 31, 2025.

Takes effect January 1, 2021, and is contingent on Senate Bill 1137 being enacted into law.