Bill Text: MI HB5811 | 2023-2024 | 102nd Legislature | Introduced

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Bill Title: Taxation: state real estate transfer; state real estate transfer tax; repeal. Repeals 1993 PA 330 (MCL 207.521 - 207.537).

Spectrum: Partisan Bill (Republican 22-0)

Status: (Introduced) 2024-06-13 - Bill Electronically Reproduced 06/13/2024 [HB5811 Detail]

Download: Michigan-2023-HB5811-Introduced.html

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HOUSE BILL NO. 5811

A bill to repeal 1993 PA 330, entitled

"State real estate transfer tax act,"

(MCL 207.521 to 207.537).

the people of the state of michigan enact:

Enacting section 1. The state real estate transfer tax act, 1993 PA 330, MCL 207.521 to 207.537, is repealed.

Enacting section 2. It is the intent of the legislature to annually appropriate sufficient funds from the state general fund to the state school aid fund created in section 11 of article IX of the state constitution of 1963 to fully compensate for any loss of revenue to the state school aid fund resulting from repeal of the state real estate transfer tax act, 1993 PA 330, MCL 207.521 to 207.537.