2003 House Bill 4488 / Public Act 262

Introduced in the House

April 1, 2003

Introduced by Rep. RuthAnn Jamnick (D-54)

To authorize the Department of Treasury to lend “surplus” state funds to the land bank authorities proposed by House Bill 4483, at the market rate of interest, for the purpose of clearing or quieting title to tax reverted property held by or under the control of a land bank.

Referred to the Committee on Land Use and Environment

June 26, 2003

Reported without amendment

With the recommendation that the substitute (H-2) be adopted and that the bill then pass.

July 1, 2003

Substitute offered

To replace the previous version of the bill with one recommended by the committee which reported it. The substitute incorporates technical changes resulting from committee testimony and deliberation. These changes do not affect the substance of the bill as previously described.

The substitute passed by voice vote

Passed in the House 107 to 0 (details)

Received in the Senate

July 2, 2003

Referred to the Committee on Finance

Dec. 2, 2003

Reported without amendment

With the recommendation that the bill pass.

Dec. 16, 2003

Passed in the Senate 36 to 0 (details)

To authorize the Department of Treasury to lend “surplus” state funds to the land bank authorities proposed by House Bill 4483, at the market rate of interest, for the purpose of clearing or quieting title to tax reverted property held by or under the control of a land bank.

Signed by Gov. Jennifer Granholm

Dec. 31, 2003