MI HB6343

Expands the definition of transfers that do not trigger property tax "uncapping" (reassessment to current value) to include transfers of residential real property to sons-in-law and daughters-in-law of the transferor or transferor's spouse, effective December 31, 2014.

Specifies that the son-in-law and daughter-in-law exemption applies only to transfers made on or after the bill's effective date and does not apply retroactively to transfers made before the amendatory act took effect.

Requires residential real property transferred to sons-in-law or daughters-in-law to not be used for any commercial purpose following the transfer to qualify for the exemption.

Maintains existing requirements that transferees must furnish proof within 30 days of meeting eligibility requirements upon request by the department of treasury or assessor, with a $200 fine for non-compliance.

Makes technical corrections by replacing "shall" with "must" throughout section 27a and modernizing language references (e.g., "herein stated" to "provided in this subdivision").