Bill Text: MI HB6116 | 2019-2020 | 100th Legislature | Chaptered
Bill Title: Property tax: other; fund shift for the land reutilization fund; provide for. Amends sec. 78n of 1893 PA 206 (MCL 211.78n).
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2020-10-01 - Assigned Pa 168'20 With Immediate Effect [HB6116 Detail]
Download: Michigan-2019-HB6116-Chaptered.html
Act No. 168
Public Acts of 2020
Approved by the Governor
October 1, 2020
Filed with the Secretary of State
October 1, 2020
EFFECTIVE DATE: October 1, 2020
state of michigan
100th Legislature
Regular session of 2020
Introduced by Reps. Lightner and Hernandez
ENROLLED HOUSE BILL No. 6116
AN ACT to amend 1893 PA 206, entitled “An act to provide for the assessment of rights and interests, including leasehold interests, in property and the levy and collection of taxes on property, and for the collection of taxes levied; making those taxes a lien on the property taxed, establishing and continuing the lien, providing for the sale or forfeiture and conveyance of property delinquent for taxes, and for the inspection and disposition of lands bid off to the state and not redeemed or purchased; to provide for the establishment of a delinquent tax revolving fund and the borrowing of money by counties and the issuance of notes; to define and limit the jurisdiction of the courts in proceedings in connection with property delinquent for taxes; to limit the time within which actions may be brought; to prescribe certain limitations with respect to rates of taxation; to prescribe certain powers and duties of certain officers, departments, agencies, and political subdivisions of this state; to provide for certain reimbursements of certain expenses incurred by units of local government; to provide penalties for the violation of this act; and to repeal acts and parts of acts,” by amending section 78n (MCL 211.78n), as amended by 2006 PA 626.
The People of the State of Michigan enact:
Sec. 78n. (1) The land reutilization fund is created within the department of treasury.
(2) The state treasurer may receive money or other assets from any source for deposit into the fund, including a transfer of funds from the delinquent property tax administration fund as provided in subsection (5). The state treasurer shall direct the investment of the fund. The state treasurer shall credit to the fund interest and earnings from fund investments.
(3) Money in the fund at the close of the fiscal year must remain in the fund and must not lapse to the general fund.
(4) Subject to subsection (6), the department of treasury may expend money from the fund for 1 or more of the following purposes:
(a) Contracts with title insurance companies under section 78i.
(b) Costs of determining addresses, service of notices, and recording fees incurred under section 78i.
(c) Defense of title actions as determined by the state treasurer.
(d) Other costs incurred in administering the foreclosure and disposition of property forfeited for delinquent taxes under this act.
(5) The state
treasurer may transfer to the fund any balance remaining in the delinquent
property tax administration fund of this state created in section 59.
(6) For the fiscal year ending September 30, 2020 only, $9,150,000.00 of the money in the fund is transferred to and must be deposited into the general fund.
(7) As used in this section, “fund” means the land reutilization fund created in this section.
This act is ordered to take immediate effect.
Clerk of the House of Representatives
Secretary of the Senate
Approved___________________________________________
____________________________________________________
Governor
