March 6, 2014, Introduced by Reps. Bumstead, Brown, Schmidt, Callton, Pscholka, Santana and Potvin and referred to the Committee on Local Government.
A bill to amend 1893 PA 206, entitled
"The general property tax act,"
(MCL 211.1 to 211.155) by adding section 78r.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 78r. (1) A foreclosing governmental unit for a county
other than this state may acquire property owned by this state, the
federal government, or other governmental entity to facilitate the
sale of tax reverted property under section 78m. Methods of
acquisition may include, but are not limited to, an exchange of
property owned by the county for property of approximately equal
value that is owned by this state, the federal government, or other
governmental entity.
(2) If the foreclosing governmental unit for a county is not
this state, an authority may, with the consent of the foreclosing
governmental unit, convey real property owned by the authority to
the foreclosing governmental unit for no monetary consideration as
provided in section 7 of the land bank fast track act, 2003 PA 258,
MCL 124.757.
(3) The conveyance of property to a foreclosing governmental
unit under subsection (1) or (2), costs incurred by the foreclosing
governmental unit relating to that property, and a subsequent sale
or transfer of that property by the foreclosing governmental unit
shall be deemed to represent a fair exchange of value for value.
(4) A foreclosing governmental unit shall execute and record
all documents necessary to effectuate a conveyance under subsection
(1) or (2), including, but not limited to, a quitclaim deed or
affidavit of jurisdictional transfer. Documents necessary to
effectuate a conveyance under subsection (1) or (2) may be recorded
with the register of deeds in the county in which the property is
located without the payment of a fee.
(5) Property acquired by a foreclosing governmental unit under
subsection (1) or (2) shall be offered for sale by the foreclosing
governmental unit at a property sale under section 78m(2) and may
be offered for sale as a group with 1 or more other parcels under
section 78m(2). Property acquired by a foreclosing governmental
unit under subsection (1) or (2) may not be conveyed or transferred
to this state or a city, village, township, county, or authority
under section 78m. Any net proceeds from the sale of property
acquired by a foreclosing governmental unit under subsection (1) or
(2) shall be deposited into the account designated under section
78m(8) as the delinquent tax property sales proceeds for the year
in which the property is sold by the foreclosing governmental unit.
(6) As used in this section, "authority" means a land bank
fast track authority created under the land bank fast track act,
2003 PA 258, MCL 124.751 to 124.774.