The bill amends section 36103 of the 1994 PA 451, which governs the execution and acceptance of development rights agreements or easements in Michigan. It stipulates that such agreements or easements must have an initial term of at least 10 years and cannot exceed 90 years for those entered into after June 5, 1996. Additionally, the bill outlines that the state or local governing body cannot sell or transfer these agreements or easements without the owner's consent and clarifies that these agreements do not override any prior recorded liens or interests.

Furthermore, the bill establishes that any lien created in favor of the state or local governing body is subordinate to previously recorded mortgage liens. It also specifies conditions under which the state must subordinate its interest in a recorded agreement or easement to a subsequently recorded mortgage, lease, or interest, particularly when the landowner is essential to the operation of the farm. The enactment of this bill is contingent upon the passage of several other specified bills from the 103rd Legislature.

Statutes affected:
Senate Introduced Bill: 324.36103
As Passed by the Senate: 324.36103
As Passed by the House: 324.36103
Senate Enrolled Bill: 324.36103