Bill Text: MI SB0599 | 2009-2010 | 95th Legislature | Introduced
Bill Title: Natural resources; forests; change in qualified forest property; provide for recommendation by the department of agriculture. Amends sec. 2 of 2006 PA 379 (MCL 211.1032). TIE BAR WITH: SB 0603'09
Spectrum: Partisan Bill (Republican 8-0)
Status: (Introduced - Dead) 2009-05-21 - Referred To Committee On Agriculture And Bioeconomy [SB0599 Detail]
Download: Michigan-2009-SB0599-Introduced.html
SENATE BILL No. 599
May 21, 2009, Introduced by Senators STAMAS, CROPSEY, KUIPERS, JELINEK, GILBERT, VAN WOERKOM, JANSEN and PAPPAGEORGE and referred to the Committee on Agriculture and Bioeconomy.
A bill to amend 2006 PA 379, entitled
"Qualified forest property recapture tax act,"
by amending section 2 (MCL 211.1032).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 2. As used in this act:
(a) "Benefit period" means the period in years between the
date of the first exempt transfer and the conversion by a change in
use, not to exceed the 10 years immediately preceding the year in
which the qualified forest property is converted by a change in
use.
(b) "Benefit received on that property" means the sum of the
number of mills levied in the local tax collecting unit on the
qualified forest property in each year of the benefit period,
multiplied by the difference in each year of the benefit period
between the true cash taxable value of the property and the
property's taxable value as determined under section 27a of the
general property tax act, 1893 PA 206, MCL 211.27a.
(c) "Converted by a change in use" means that due to a change
in use the property is no longer qualified forest property as
determined by the assessor of the local tax collecting unit based
on
a recommendation from the department of natural resources
agriculture.
(d) "Exempt transfer" means a conveyance of property that is
not a transfer of ownership pursuant to section 27a(7)(o) of the
general property tax act, 1893 PA 206, MCL 211.27a.
(e) "Forest products" means that term as defined in section
7jj of the general property tax act, 1893 PA 206, MCL 211.7jj.
(f) "Person" means an individual, partnership, corporation,
limited liability company, association, governmental entity, or
other legal entity.
(g) "Qualified forest property" means that term as defined in
section 7jj of the general property tax act, 1893 PA 206, MCL
211.7jj.
(h) "Recapture tax" means the qualified forest property
recapture tax imposed under this act.
(i) "Treasurer" means the state treasurer.
(j) "True cash taxable value" means the taxable value the
property would have had if section 27a(7)(o) of the general
property tax act, 1893 PA 206, MCL 211.27a, were not in effect.
Enacting section 1. This amendatory act does not take effect
unless Senate Bill No. 603
of the 95th Legislature is enacted into law.
