MI HB4080

Reinstates Michigan's special assessment deferment program for homestead properties, allowing eligible homeowners to defer payment of special assessments levied on or after October 1, 2022 until one year after the owner's death or upon sale/transfer of the property.

Expands the definition of "special assessment" to include dam construction or reconstruction costs, in addition to existing categories like sewer, water, street paving, and drain assessments.

Clarifies that the deferment continues for a surviving spouse who jointly owned the homestead, removing the previous requirement that the surviving spouse not remarry.

Allows owners to make up to 4 partial payments per year on deferred balances, with minimum payments of $500 or 5% of the total owed (whichever is greater), while interest continues to accrue on unpaid amounts.

Takes effect only if HB 4079 is also enacted into law (tie bar provision).