MI SB0690

Expands state income tax credits for farmland owners to include those with agricultural conservation easements or purchases of development rights under additional statutory provisions, not just development rights agreements

Owners of qualifying farmland can claim a credit for property taxes exceeding 3.5% of household income, with the credit refundable if it exceeds tax liability

Allows persons who applied for development rights agreements in 2017 and received approval between 2023 and 2025 to claim credits for tax years 2017 and 2018 by December 31, 2026

Requires the Department of Agriculture and Rural Development to maintain records of all development rights agreements and conservation easements for which credits are claimed

Takes immediate effect but is contingent on enactment of Senate Bills 685, 686, 687, 688, and 689 from the 103rd Legislature