Sec. 7vv. (1) Transitional qualified forest property is exempt from the collection of taxes under this act for a period not longer than 5 years. (2) Property exempt from the collection of taxes under subsection (1) is subject to the specific tax levied under the transitional qualified forest property specific tax act. (3) As used in this section, "transitional qualified forest property" means that term as defined in the transitional qualified forest property specific tax act.
Mich. Comp. Laws § 211.7vv
Transitional qualified forest property; tax exemption; property subject to tax under transitional qualified forest property specific tax act; definition
Add. 2016, Act 261, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.