REPEAL TAX LIEN ACT - S.B. 842: FLOOR ANALYSIS
Senate Bill 842 (as reported without amendment)
Sponsor: Senator Bev Hammerstrom
Committee: Finance
CONTENT
The bill would repeal the Michigan Tax Lien Sale and Collateralized Securities Act, which allows Detroit to sell tax liens that are placed on property for which taxes, special assessments, and/or other levies or charges are delinquent; allows the city to create a tax lien entity to purchase the city's tax liens; and allows the entity to issue bonds, secured by the tax liens.
MCL 211.921-211.941 - Legislative Analyst: G. Towne
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Date Completed: 2-7-02 - Fiscal Analyst: D. Zin
Floor\sb842 - Bill Analysis @ http://www.senate.state.mi.us/sfa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.