November 9, 2005, Introduced by Senators TOY, ALLEN, KUIPERS, HARDIMAN, GOSCHKA and McMANUS and referred to the Committee on Local, Urban and State Affairs.
A bill to amend 2003 PA 258, entitled
"Land bank fast track act,"
by amending section 7 (MCL 124.757).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 7. (1) Except as an authority otherwise agrees by
intergovernmental agreement or otherwise, on terms and conditions,
and in a manner and for an amount of consideration an authority
considers proper, fair, and valuable, including for no monetary
consideration, the authority may convey, sell, transfer, exchange,
lease as lessor, or otherwise dispose of property or rights or
interests in property in which the authority holds a legal interest
to any public or private person for value determined by the
authority. If the department of environmental quality determines
that conditions on a property transferred to an authority under
section 78m(15)
78m of the general property tax act, 1893 PA 206,
MCL 211.78m, represent an acute threat to public health, safety,
and welfare, or to the environment, the authority shall not convey,
sell, transfer, exchange, lease, or otherwise dispose of the
property until after a determination by the department of
environmental quality that the acute threat has been eliminated and
that conveyance, sale, transfer, exchange, lease, or other disposal
of the property by the authority will not interfere with any
response activities by the department. The transfer and use of
property under this section and the exercise by the authority of
powers and duties under this act shall be considered a necessary
public purpose and for the benefit of the public.
(2) All property held by an authority shall be inventoried and
classified by the authority according to title status and
suitability for use.
(3) A document, including, but not limited to, a deed,
evidencing the transfer under this act of 1 or more parcels of
property to an authority by this state or a political subdivision
of this state may be recorded with the register of deeds office in
the county in which the property is located without the payment of
a fee.