Michigan Compiled Laws Act 77 Of 1951 Tax On Low Grade Iron Ore (211.621 - 211.626)

AN ACT providing for the specific taxation of low grade iron ore, of low grade iron ore mining property, and of rights to minerals in lands containing low grade iron ores; to provide for the collection and distribution of the specific tax; to make an appropriation; and to prescribe the powers and duties of the state geologist and township supervisors and treasurers with respect to the specific tax.

History: 1951, Act 77, Imd. Eff. May 28, 1951 ;-- Am. 1959, Act 147, Eff. Mar. 19, 1960 ;-- Am. 1987, Act 277, Imd. Eff. Jan. 6, 1988

Compiler's Notes: Section 2 of Act 277 of 1987 provides: “This act shall be known and cited as the 'James Goulette iron ore recovery act of 1987'.”

Section 211.621 Definitions.
As used in this act: (a) “Low grade iron ore” means iron-bearing rock, also known as iron formation, jasper, ferruginous chert, or ferruginous slate,...
Section 211.622 Specific Tax On Mining Property Before Production Of Ore Or Construction Of Plants.
Before the first calendar year in which production of merchantable ore from a low grade iron ore mining property has been established on a...
Section 211.623 Specific Tax On Mining Property After Production Of Ore; Determination Of Mine Value; “lower Lake Price” Defined.
(1) Beginning with the first calendar year after production of merchantable ore from a low grade iron ore mining property has been established on...
Section 211.624 Minimum Specific Tax; Entering Land Descriptions On Separate Roll; Spreading And Collecting Specific Tax; Return And Sale Of Property For Nonpayment Of Taxes; Valuation; Property Located In More Than 1 Township; Distribution And Use Of Sums Collected; Specific Tax In Lieu Of Ad Valorem Tax; Determining Proportion For Disbursement And Attribution Of Taxes; Payment.
(1) If the specific tax determined under section 3 is less than the specific tax determined under section 2, then section 2 shall govern....
Section 211.625 Purpose Of Act.
The purpose of this act is to encourage commercial development of and uniform production from low grade mineral resources in the state of Michigan....
Section 211.626 Appropriation; Purpose.
There is appropriated from the general fund $1,651,000.00 for reimbursement of governmental units and school districts for the amount by which property tax revenue,...

Last modified: October 10, 2016