Statutes > Michigan Statutes > Chapter 211 - TAXATION OF REAL AND PERSONAL PROPERTY > Act 379 of 2006 - QUALIFIED FOREST PROPERTY RECAPTURE TAX ACT (211.1031 - 211.1036) > Section 211.1035 - Recapture tax; collection; notification; credit to general fund.

Section 211.1035 - Recapture tax; collection; notification; credit to general fund.

QUALIFIED FOREST PROPERTY RECAPTURE TAX ACT (EXCERPT)
Act 379 of 2006

211.1035 Recapture tax; collection; notification; credit to general fund.

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 to the general fund of this state.


History: 2006, Act 379, Imd. Eff. Sept. 27, 2006