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211.7pp Mineral and right, claim, lease, or option; tax exemption; shaft, incline, adit, or value of overburden stripping at open mine; tax exemption; "mineral" and "open mine" defined.

Sec. 7pp.

Beginning December 31, 2012, any mineral and any right, claim, lease, or option in or of a mineral is exempt from the collection of taxes under this act. Beginning December 31, 2012, any shaft, incline, adit, or value of overburden stripping located at an open mine is exempt from the collection of taxes under this act. The exemption under this section does not apply to the surface property, rights in the surface property, surface improvements, or personal property at an open mine. As used in this section, "mineral" and "open mine" mean those terms as defined in the nonferrous metallic minerals extraction severance tax act.

History: Add. 2012, Act 409, Imd. Eff. Dec. 20, 2012
Popular Name: Act 206

Section: Previous 211.7hh 211.7ii 211.7jj 211.7jj-1 211.7kk 211.7mm 211.7nn 211.7oo 211.7pp 211.7qq 211.7ss 211.7tt 211.7uu 211.7ww Next

Last modified: October 10, 2016