Mich. Comp. Laws § 211.1022

Sec. 2. As used in this act: (a) "Authority" means a land bank fast track authority created under the land bank fast track act. (b) "Commission" means the state tax commission created by 1927 PA 360, MCL 209.101 to 209.107. (c) "Eligible tax reverted property" means property that is exempt under section 7gg of the general property tax act, 1893 PA 206, MCL 211.7gg. (d) "Eligible tax reverted property specific tax" means the specific tax levied under this act. (e) "Principal residence" means that term as defined in section 7dd of the general property tax act, 1893 PA 206, MCL 211.7dd. (f) "Taxable value" means the taxable value determined under section 27a of the general property tax act, 1893 PA 206, MCL 211.27a.