RETURN OF COLLECTED TAXES H.B. 5724: FLOOR ANALYSIS
House Bill 5724 (as reported without amendment)
Sponsor: Representative Brian Palmer
House Committee: Tax Policy
Senate Committee: Finance
CONTENT
The bill would amend the General Property Tax Act to provide for the return of taxes erroneously collected or required to be returned pursuant to a bankruptcy proceeding.
Specifically, if a local tax collecting unit had distributed taxes collected under the Act to a local taxing unit or to the State Treasurer, the local taxing unit or the State Treasurer would be required to return to the local tax collecting unit, upon request, an amount erroneously collected or required to be returned by court order in a bankruptcy proceeding filed after December 31, 1999.
Proposed MCL 211.52a Legislative Analyst: J.P. Finet
FISCAL IMPACT
The bill would have a negligible fiscal impact on State and local government.
Date Completed: 12-3-04 Fiscal Analyst: David Zin
floor\hb5724 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.
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. hb5724/0304