MI HB4968

Amends the Tax Reverted Clean Title Act to modify how the eligible tax reverted property specific tax is calculated to include both the general property tax and, if applicable, the land value tax under the Land Tax Equity Act.

Changes references from "upon" to "on" and "shall" to "must" throughout the statute for grammatical consistency.

Clarifies that the 50% of tax revenue disbursed to the land bank authority must be used for purposes authorized under the Land Bank Fast Track Act or to repay loans made to the authority under specified provisions.

Includes a requirement that any distribution under section 8 of the Land Tax Equity Act be disbursed along with eligible tax reverted property specific tax payments.

Bill's effectiveness is contingent on the enactment of either Senate Bill No. ____ or House Bill No. 4966 during the 102nd Legislature.