A bill to amend 1976 PA 225, entitled “An act to defer the collection of special assessments on homestead properties; to provide for conditions of eligibility for such a deferment; to prescribe the powers and duties of the department of treasury, local assessing officers, and local collecting officers; to provide for the advancement of moneys by the state to indemnify special assessment districts for losses from deferment of collections; to provide for the advancement of money by the state to an owner for the repayment of loans used by the owner to pay special assessments; to provide for the collection of deferred special assessments and interest thereon, and the disposition of these collections; to make an appropriation; and to prescribe penalties,” by amending sections 3 and 4 (MCL 211.763 and 211.764), as amended by 1980 PA 403.
The bill amends existing laws to update eligibility criteria and financial thresholds for deferring special assessments on homesteads, introduces inflation adjustments, and outlines procedures for reacquiring properties and applying for deferments, contingent on the enactment of related legislation.
Co-sponsored by Reps.
Referred to the Committee on Finance
