The bill amends the existing law regarding the deferment of special assessments on homestead properties, specifically targeting individuals who are 65 years or older or totally and permanently disabled. It introduces new eligibility criteria, requiring that applicants must be U.S. citizens, residents of Michigan for at least five years, and the sole owners of the homestead for the same duration. The bill also adjusts the income threshold for eligibility, increasing it from $8,000 to $10,000 after December 31, 1982, and further to $29,619 after the effective date of the amendatory act. Additionally, it mandates that the gross amount of deferred special assessments must not be less than $300.

Furthermore, the bill outlines the application process for deferment, requiring individuals to submit an affidavit to the local assessing officer. This affidavit must include a statement about the state's lien on the property if deferment is granted. The bill also stipulates that if the homestead is jointly owned, both spouses must sign the affidavit, and if there is a mortgage or land contract, written consent from the mortgagee or vendor is necessary. The consent must acknowledge that their interest in the property is subordinate to the state's lien. The bill will only take effect if another related bill is enacted into law.

Statutes affected:
House Introduced Bill: 211.763, 211.764