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.