Michigan Compiled Laws Act 261 Of 2000 Agricultural Property Recapture Act (211.1001 - 211.1007)

AN ACT to impose a state recapture tax on the change in use of certain agricultural property; to provide for the administration of this act; to prescribe the powers and duties of certain state and local officers; to provide for the collection and distribution of the recapture tax; and to prescribe penalties and provide remedies.

History: 2000, Act 261, Imd. Eff. June 29, 2000

Section 211.1001 Short Title.
This act shall be known and may be cited as the “agricultural property recapture act”. History: 2000, Act 261, Imd. Eff. June 29, 2000
Section 211.1002 Definitions.
As used in this act: (a) “Benefit period” means the period in years between the date of the first exempt transfer and the conversion...
Section 211.1003 Agricultural Property Recapture Tax; Imposition.
(1) Beginning January 1, 2001, the agricultural property recapture tax provided under section 4 is imposed as provided in this section if the property...
Section 211.1004 Agricultural Property Recapture Tax Or Benefit Received On Property.
The recapture tax imposed under section 3 is the benefit received on that property. History: 2000, Act 261, Imd. Eff. June 29, 2000
Section 211.1005 Collection And Deposit Of Recapture Tax; Notification Of Conversion Date.
(1) The recapture tax shall be collected by the county treasurer and deposited with the treasurer as provided in this section. By the fifteenth...
Section 211.1006 Crediting Proceeds Of Recapture Tax To Certain Fund.
The treasurer shall credit the proceeds of the recapture tax collected by county treasurers under this act to the fund in which the proceeds...
Section 211.1007 Administration Of Recapture Tax By Revenue Division.
This act shall be administered by the revenue division of the department of treasury under 1941 PA 122, MCL 205.1 to 205.31. History: 2000,...

Last modified: October 10, 2016