SB-0054, As Passed House, May 23, 2013

SUBSTITUTE FOR

SENATE BILL NO. 54

A bill to amend 2006 PA 379, entitled

"Qualified forest property recapture tax act,"

by amending section 5 (MCL 211.1035).

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

Sec. 5. (1) The recapture tax shall be collected by the

treasurer.

(2) The assessor of the local tax collecting unit shall notify

the treasurer of the date the property is converted by a change in

use.

(3) The treasurer shall credit the proceeds of the recapture

tax collected under this act as follows:

(a) Before January 1, 2014, to the general fund of this state.

(b) After December 31, 2013, to the private forestland

enhancement fund created in section 51305 of the natural resources

and environmental protection act, 1994 PA 451, MCL 324.51305.