HOUSE BILL No. 4890

 

June 25, 2003, Introduced by Reps. Brandenburg, Woronchak, Drolet, Acciavatti, Milosch, Garfield, Hummel, Palmer, Voorhees, Emmons, Huizenga, Bisbee, Moolenaar, LaJoy, Pastor, Walker, Amos, DeRoche, Hoogendyk, Hune, Rocca, Hart, Shackleton, Meyer, Steil, Sheen, Palsrok, Gaffney, Mortimer, Casperson, Farhat, Nofs, Stakoe, Nitz, Vander Veen, Kooiman, Stahl, Wenke, Ward, Shaffer, Robertson, Howell, Ruth Johnson, Daniels, Hager, Shulman, Pumford, Stewart, Richardville, Caul, Plakas, Pappageorge, DeRossett, Newell, Middaugh and Julian and referred to the Committee on Tax Policy.

        

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                

                                                                                 A bill to amend 1966 PA 134, entitled                                             

                                                                                

    "An act to impose a tax upon written instruments which transfer             

    any interest in real property; to provide for the administration            

    of this act; and to provide penalties for violations of this                

    act,"                                                                       

                                                                                

    by amending section 5 (MCL 207.505).                                        

                                                                                

                THE PEOPLE OF THE STATE OF MICHIGAN ENACT:                      

                                                                                

1       Sec. 5.  The following instruments and transfers shall be                   

                                                                                

2   exempt from this act:                                                       

                                                                                

3       (a)  Instruments  A written instrument where the value of                   

                                                                                

4   the consideration is less than $100.00.                                     

                                                                                

5       (b)  Instruments  A written instrument evidencing                           

                                                                                

6   contracts  a contract or  transfers which are  transfer that is            

                                                                                

7   not to be performed wholly within this state  insofar as such               

                                                                                

8   instruments include  only to the extent that the instrument                 

                                                                                

9   includes land lying outside of this state.                                  

                                                                                

10      (c)  Written instruments which  A written instrument that                   


                                                                                

1   this state is prohibited from taxing under the United States                

                                                                                

2   constitution or federal statutes.  of the United States.                    

                                                                                

3       (d)  Instruments or writings  A written instrument given as                 

                                                                                

4   security or  any  an assignment or discharge  thereof  of the               

                                                                                

5   security interest.                                                          

                                                                                

6       (e)  Instruments  A written instrument evidencing  leases  a                

                                                                                

7   lease, including an oil and gas  leases  lease, or  transfers  a            

                                                                                

8   transfer of  such  a leasehold  interests  interest.                        

                                                                                

9       (f)  Instruments  A written instrument evidencing  any                      

                                                                                

10  interests which are  an interest that is assessable as personal             

                                                                                

11  property.                                                                   

                                                                                

12      (g)  Instruments  A written instrument evidencing the                       

                                                                                

13  transfer of  rights  a right and  interests  interest for                   

                                                                                

14  underground gas storage purposes.                                           

                                                                                

15      (h)  Instruments  Any of the following written instruments:                 

                                                                                

16                                                                               (i) A written instrument in which the grantor is the United                         

                                                                                

17  States,  the  this state,  any  a political subdivision or                  

                                                                                

18  municipality  thereof  of this state, or an officer  thereof  of            

                                                                                

19  the United States or of this state or a political subdivision of            

                                                                                

20  this state acting in his or her official capacity.  ;                       

                                                                                

21      (ii) A written instrument given in foreclosure or in lieu of                 

                                                                                

22  foreclosure of a loan made, guaranteed, or insured by the United            

                                                                                

23  States,  the  this state,  any  a political subdivision or                  

                                                                                

24  municipality  thereof  of this state, or an officer  thereof  of            

                                                                                

25  the United States or of this state or a political subdivision or            

                                                                                

26  municipality of this state acting in his or her official                    

                                                                                

27  capacity.  ;                                                                


                                                                                

1       (iii) A written instrument given to the United States,  the                  

                                                                                

2   this state, or 1 of their officers acting in an official capacity           

                                                                                

3   as grantee, pursuant to the terms or guarantee or insurance of a            

                                                                                

4   loan guaranteed or insured by the grantee.                                  

                                                                                

5       (i)  Conveyances  A conveyance from a husband or wife or                    

                                                                                

6   husband and wife creating or disjoining a tenancy by the                    

                                                                                

7   entireties in the grantors or the grantor and his or her spouse.            

                                                                                

8       (j)  Judgments  A judgment or  orders  order of  courts  a                  

                                                                                

9   court of record making or ordering  transfers, except where  a              

                                                                                

10  transfer, unless a specific monetary consideration is specified             

                                                                                

11  or ordered by the court  therefor  for the transfer.                        

                                                                                

12      (k)  Instruments  A written instrument used to straighten                   

                                                                                

13  boundary lines  where  if no monetary consideration is given.               

                                                                                

14                                                                               (l)  Instruments  A written instrument to confirm  titles                            

                                                                                

15  title already vested in  grantees, such as  a grantee, including            

                                                                                

16  a quitclaim  deeds  deed to correct  flaws  a flaw in  titles               

                                                                                

17  title.                                                                      

                                                                                

18      (m)  Land contracts whereby  A land contract in which the                   

                                                                                

19  legal title does not pass to the grantee until the total                    

                                                                                

20  consideration specified in the contract has been paid.                      

                                                                                

21      (n)  Instruments  A written instrument evidencing the                       

                                                                                

22  transfer of mineral rights and interests.                                   

                                                                                

23      (o)  Instruments  A written instrument creating a joint                     

                                                                                

24  tenancy between 2 or more persons  where  if at least 1 of the              

                                                                                

25  persons already  owned  owns the property.                                  

                                                                                

26      (p) A written instrument that conveys an interest in                        

                                                                                

27  property in which 1 or more of the transferors or 1 or more of              


                                                                                

1   the transferees is 65 years of age or older.