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2003 House Bill 4482

Public Act 260 of 2003

Introduced by Rep. Gene DeRossett (R) on March 27, 2003
To authorize an alternative “specific tax” for five years on tax-reverted property sold by a local government, which would replace regular property taxes, but be levied at the same rate. The bill establishes an alternative distribution formula for the revenue. Half the revenue would be distributed to schools and other units of government under the existing formula, and half would go directly to the local government to be used to clear titles and to repay loans from the state for the same purpose (see House Bill 4488).   Official Text and Analysis.
Referred to the House Land Use and Environment Committee on March 27, 2003
Reported in the House on June 26, 2003
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
Substitute offered in the House on July 1, 2003
To replace the previous version of the bill with one which would give half the proposed tax to the land bank authority proposed by House Bill 4483. See House passed bill for details.
The substitute passed by voice vote in the House on July 1, 2003
To authorize an alternative “specific tax” for five years on tax-reverted property sold by a "land bank authority" proposed by House Bill 4483. This tax would replace regular property taxes, but be levied at the same rate. The bill establishes an alternative distribution formula for the revenue. Half the revenue would be distributed to schools and other units of government under the existing formula, and half would go directly to the land bank authority to be used to clear titles and to repay loans received from the state for the same purpose (see House Bill 4488).
Received in the Senate on July 2, 2003
Referred to the Senate Finance Committee on July 2, 2003
Reported in the Senate on December 2, 2003
With the recommendation that the bill pass.
Signed by Gov. Jennifer Granholm on January 5, 2004

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