The bill amends the Natural Resources and Environmental Protection Act by updating the tax payment structure for tax reverted, recreation, forest, or other lands under the control of the Michigan Department of Treasury. It establishes that, starting December 1, the department will pay a tax of $4.00 per acre, adjusted annually by 5% or the inflation rate, whichever is less. The previous tiered tax structure, which varied from $2.50 to $3.00 per acre based on the year, has been removed. Additionally, the definition of "inflation rate" is clarified by referencing the General Property Tax Act.

Furthermore, the bill modifies the distribution of tax revenues received by counties. It eliminates the previous requirement for distribution to school districts and specifies that the county treasurer will distribute the funds proportionally to townships based on the number of acres of land in each township. The distribution for disbursements made after November 30, 1994, will be split equally between the county general fund and the township general fund. The bill also mandates that the state will fully pay the amount indicated in the detailed statement of account prepared by the Department of Treasury.

Statutes affected:
House Introduced Bill: 324.2150