Section 211.1001 – Short Title.

211.1001 Short title. Sec. 1. This act shall be known and may be cited as the “agricultural property recapture act”. History: 2000, Act 261, Imd. Eff. June 29, 2000

Section 211.1002 – Definitions.

211.1002 Definitions. 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 7 years immediately preceding the year in which the qualified agricultural property is converted by a change in […]

Section 211.1003 – Agricultural Property Recapture Tax; Imposition.

211.1003 Agricultural property recapture tax; imposition. Sec. 3. (1) Beginning January 1, 2001, the agricultural property recapture tax provided under section 4 is imposed as provided in this section if the property meets all of the following conditions: (a) The property was transferred after December 31, 1999. (b) The taxable value of the property was […]

Section 211.1004 – Agricultural Property Recapture Tax or Benefit Received on Property.

211.1004 Agricultural property recapture tax or benefit received on property. Sec. 4. The recapture tax imposed under section 3 is the benefit received on that property. History: 2000, Act 261, Imd. Eff. June 29, 2000

Section 211.1005 – Collection and Deposit of Recapture Tax; Notification of Conversion Date.

211.1005 Collection and deposit of recapture tax; notification of conversion date. Sec. 5. (1) The recapture tax shall be collected by the county treasurer and deposited with the treasurer as provided in this section. By the fifteenth day of each month, the county treasurer shall, on a form prescribed by the treasurer, itemize the recapture […]

Section 211.1006 – Crediting Proceeds of Recapture Tax to Certain Fund.

211.1006 Crediting proceeds of recapture tax to certain fund. Sec. 6. The treasurer shall credit the proceeds of the recapture tax collected by county treasurers under this act to the fund in which the proceeds from lien payments made under part 361 of the natural resources and environmental protection act, 1994 PA 451, MCL 324.36101 […]

Section 211.1007 – Administration of Recapture Tax by Revenue Division.

211.1007 Administration of recapture tax by revenue division. Sec. 7. This act shall be administered by the revenue division of the department of treasury under 1941 PA 122, MCL 205.1 to 205.31. History: 2000, Act 261, Imd. Eff. June 29, 2000