MI SB0726

Changes "shall" to "must" throughout sections 78h and 78k to update legislative language regarding property tax foreclosure procedures and requirements.

Adds new subsection (3)(d) allowing property to be withheld from foreclosure if a payment was made for taxes levied after the delinquent taxes being foreclosed, provided the payment equals or exceeds the redemption amount, with notification to occur via a department of treasury-prescribed form.

Authorizes foreclosing governmental units to cancel foreclosures by recording a certificate of error if a payment was made for later-levied taxes that met redemption requirements, without prejudicing the taxing unit's lien or the unit's right to include the property in future foreclosure proceedings.

Clarifies language regarding lien extinguishment and title vesting in foreclosure judgments by replacing "pursuant to" with "under" when referencing the natural resources and environmental protection act.

Makes the act effective only upon enactment of Senate Bill No. 725 of the 100th Legislature.