CERTIFIED ABANDONED PROPERTY - S.B. 489 (S-1): FLOOR ANALYSIS
Senate Bill 489 (Substitute S-1 as reported)
Sponsor: Senator Gary Peters
Committee: Economic Development, International Trade and Regulatory Affairs
CONTENT
The bill would amend the General Property Tax Act to provide that for taxes levied after December 31, 1998, certified abandoned property would be subject to forfeiture, foreclosure, and sale as provided under the bill. On the May 1 succeeding the March 1 that unpaid taxes were returned as delinquent, the county treasurer would have to add a $35 fee on each parcel of certified abandoned property for which the delinquent taxes, interest, penalties, and fees remain unpaid.
("Certified abandoned property" would mean property that had been returned as delinquent to the county treasurer on March 1 of each tax year and was certified under the Certification of Abandoned Property for Accelerated Forfeiture Act, proposed by Senate Bill 488.)
The bill is tie-barred to Senate Bill 343, which would create an urban homesteading program to make property available to eligible buyers to rent at fair market rental value; Senate Bill 487, which provides that tax delinquent property would be subject to forfeiture, foreclosure, and sale; and Senate Bill 488.
MCL 211.79 & 211.79a - Legislative Analyst: N. Nagata
FISCAL IMPACT
The bill would allow counties to levy a $35 fee on each parcel of certified abandoned property that had delinquent taxes.
Date Completed: 5-10-99 - Fiscal Analyst: R. Ross
floor\sb489(S-1) - Analysis available @ http://www.michiganlegislature.org
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.