HOUSE BILL No. 5364


     November 12, 1997, Introduced by Reps. Richner, McBryde, Raczkowski, Jellema, Scranton and Voorhees and referred to the Committee on Tax Policy.


        A bill to amend 1893 PA 206, entitled

   "The general property tax act,"

   (MCL 211.1 to 211.157) by adding section 7gg.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 1         SEC. 7GG.  PROPERTY THAT IS CERTIFIED SPECIAL RESIDENTIAL

 2    PROPERTY UNDER SECTION 55A, THE TITLE TO WHICH IS ABSOLUTE IN

 3    THIS STATE OR A POLITICAL SUBDIVISION OF THIS STATE AND SOLD TO A

 4    PRIVATE PURCHASER, IS EXEMPT FROM THE COLLECTION OF TAXES UNDER

 5    THIS ACT FOR 10 YEARS.  THE EXEMPTION PROVIDED UNDER THIS SECTION

 6    SHALL COMMENCE ON DECEMBER 30 OF THE YEAR IN WHICH TITLE TO THE

 7    CERTIFIED SPECIAL RESIDENTIAL PROPERTY IS TRANSFERRED TO THE PRI-

 8    VATE PURCHASER.








   01003'97          Final page.                            FDD