HOUSE BILL No. 6028

 

May 3, 2006, Introduced by Reps. Taub, Sheen, Garfield, Stakoe, Shaffer, Amos, Marleau, Meyer, Hildenbrand, Jones, Pearce, Palmer, David Law, Gaffney and Accavitti and referred to the Committee on Tax Policy.

 

     A bill to amend 1893 PA 206, entitled

 

"The general property tax act,"

 

by amending section 7cc (MCL 211.7cc), as amended by 2003 PA 247.

 

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 

     Sec. 7cc. (1) A principal residence is exempt from the tax

 

levied by a local school district for school operating purposes to

 

the extent provided under section 1211 of the revised school code,

 

1976 PA 451, MCL 380.1211, if an owner of that principal residence

 

claims an exemption as provided in this section. Notwithstanding

 

the tax day provided in section 2, the status of property as a

 

principal residence shall be determined on the date an affidavit

 

claiming an exemption is filed under subsection (2).

 

     (2) An owner of property may claim an exemption under this


 

section by filing an affidavit on or before May 1 with the local

 

tax collecting unit in which the property is located. The affidavit

 

shall state that the property is owned and occupied as a principal

 

residence by that owner of the property on the date that the

 

affidavit is signed. The affidavit shall be on a form prescribed by

 

the department of treasury. One copy of the affidavit shall be

 

retained by the owner, 1 copy shall be retained by the local tax

 

collecting unit until any appeal or audit period under this act has

 

expired, and 1 copy shall be forwarded to the department of

 

treasury pursuant to subsection (4), together with all information

 

submitted under subsection (26) for a cooperative housing

 

corporation. The affidavit shall require the owner claiming the

 

exemption to indicate if that owner or that owner's spouse has

 

claimed another exemption on property in this state that is not

 

rescinded or a substantially similar exemption, deduction, or

 

credit on property in another state that is not rescinded. If the

 

affidavit requires an owner to include a social security number,

 

that owner's number is subject to the disclosure restrictions in

 

1941 PA 122, MCL 205.1 to 205.31. If an owner of property filed an

 

affidavit for an exemption under this section before January 1,

 

2004, that affidavit shall be considered the affidavit required

 

under this subsection for a principal residence exemption and that

 

exemption shall remain in effect until rescinded as provided in

 

this section.

 

     (3) A husband and wife who are required to file or who do file

 

a joint Michigan income tax return are entitled to not more than 1

 

exemption under this section. An owner of property who as a


 

condition of employment at a boarding school in this state is

 

required to live on campus for the period of time that the boarding

 

school is in session is entitled to 1 exemption under this section

 

if that owner of property files an affidavit claiming the exemption

 

as provided in subsection (2). For taxes levied after December 31,

 

2002, a person is not entitled to an exemption under this section

 

if any of the following conditions occur:

 

     (a) That person has claimed a substantially similar exemption,

 

deduction, or credit on property in another state that is not

 

rescinded.

 

     (b) Subject to subdivision (a), that person or his or her

 

spouse owns property in a state other than this state for which

 

that person or his or her spouse claims an exemption, deduction, or

 

credit substantially similar to the exemption provided under this

 

section, unless that person and his or her spouse file separate

 

income tax returns.

 

     (c) That person has filed a nonresident Michigan income tax

 

return, except active duty military personnel stationed in this

 

state with his or her principal residence in this state.

 

     (d) That person has filed an income tax return in a state

 

other than this state as a resident, except active duty military

 

personnel stationed in this state with his or her principal

 

residence in this state.

 

     (e) That person has previously rescinded an exemption under

 

this section for the same property for which an exemption is now

 

claimed and there has not been a transfer of ownership of that

 

property after the previous exemption was rescinded, if either of


 

the following conditions is satisfied:

 

     (i) That person has claimed an exemption under this section for

 

any other property for that tax year.

 

     (ii) That person has rescinded an exemption under this section

 

on other property, which exemption remains in effect for that tax

 

year, and there has not been a transfer of ownership of that

 

property.

 

     (4) Upon receipt of an affidavit filed under subsection (2)

 

and unless the claim is denied under this section, the assessor

 

shall exempt the property from the collection of the tax levied by

 

a local school district for school operating purposes to the extent

 

provided under section 1211 of the revised school code, 1976 PA

 

451, MCL 380.1211, as provided in subsection (1) until December 31

 

of the year in which the property is transferred or is no longer a

 

principal residence as defined in section 7dd. The local tax

 

collecting unit shall forward copies of affidavits to the

 

department of treasury according to a schedule prescribed by the

 

department of treasury.

 

     (5) Not more than 90 days after exempted property is no longer

 

used as a principal residence by the owner claiming an exemption,

 

that owner shall rescind the claim of exemption by filing with the

 

local tax collecting unit a rescission form prescribed by the

 

department of treasury. An owner who fails to file a rescission as

 

required by this subsection is subject to a penalty of $5.00 per

 

day for each separate failure beginning after the 90 days have

 

elapsed, up to a maximum of $200.00. This penalty shall be

 

collected under 1941 PA 122, MCL 205.1 to 205.31, and shall be


 

deposited in the state school aid fund established in section 11 of

 

article IX of the state constitution of 1963. This penalty may be

 

waived by the department of treasury.

 

     (6) If the assessor of the local tax collecting unit believes

 

that the property for which an exemption is claimed is not the

 

principal residence of the owner claiming the exemption, the

 

assessor may deny a new or existing claim by notifying the owner

 

and the department of treasury in writing of the reason for the

 

denial and advising the owner that the denial may be appealed to

 

the residential and small claims division of the Michigan tax

 

tribunal within 35 days after the date of the notice. The assessor

 

may deny a claim for exemption for the current year and for the 3

 

immediately preceding calendar years. If the assessor denies an

 

existing claim for exemption, the assessor shall remove the

 

exemption of the property and, if the tax roll is in the local tax

 

collecting unit's possession, amend the tax roll to reflect the

 

denial and the local treasurer shall within 30 days of the date of

 

the denial issue a corrected tax bill for any additional taxes with

 

interest at the rate of 1.25% per month or fraction of a month and

 

penalties computed from the date the taxes were last payable

 

without interest or penalty. If the tax roll is in the county

 

treasurer's possession, the tax roll shall be amended to reflect

 

the denial and the county treasurer shall within 30 days of the

 

date of the denial prepare and submit a supplemental tax bill for

 

any additional taxes, together with interest at the rate of 1.25%

 

per month or fraction of a month and penalties computed from the

 

date the taxes were last payable without interest or penalty.


 

Interest on any tax set forth in a corrected or supplemental tax

 

bill shall again begin to accrue 60 days after the date the

 

corrected or supplemental tax bill is issued at the rate of 1.25%

 

per month or fraction of a month. Taxes levied in a corrected or

 

supplemental tax bill shall be returned as delinquent on the March

 

1 in the year immediately succeeding the year in which the

 

corrected or supplemental tax bill is issued. If the assessor

 

denies an existing claim for exemption, the interest due shall be

 

distributed as provided in subsection (23). However, if the

 

property has been transferred to a bona fide purchaser before

 

additional taxes were billed to the seller as a result of the

 

denial of a claim for exemption, the taxes, interest, and penalties

 

shall not be a lien on the property and shall not be billed to the

 

bona fide purchaser, and the local tax collecting unit if the local

 

tax collecting unit has possession of the tax roll or the county

 

treasurer if the county has possession of the tax roll shall notify

 

the department of treasury of the amount of tax due, interest, and

 

penalties through the date of that notification. The department of

 

treasury shall then assess the owner who claimed the exemption

 

under this section for the tax, interest, and penalties accruing as

 

a result of the denial of the claim for exemption, if any, as for

 

unpaid taxes provided under 1941 PA 122, MCL 205.1 to 205.31, and

 

shall deposit any tax or penalty collected into the state school

 

aid fund and shall distribute any interest collected as provided in

 

subsection (23). The denial shall be made on a form prescribed by

 

the department of treasury. If the property for which the assessor

 

has denied a claim for exemption under this subsection is located


 

in a county in which the county treasurer or the county

 

equalization director have elected to audit exemptions under

 

subsection (10), the assessor shall notify the county treasurer or

 

the county equalization director of the denial under this

 

subsection.

 

     (7) If the assessor of the local tax collecting unit believes

 

that the property for which the exemption is claimed is not the

 

principal residence of the owner claiming the exemption and has not

 

denied the claim, the assessor shall include a recommendation for

 

denial with any affidavit that is forwarded to the department of

 

treasury or, for an existing claim, shall send a recommendation for

 

denial to the department of treasury, stating the reasons for the

 

recommendation.

 

     (8) The department of treasury shall determine if the property

 

is the principal residence of the owner claiming the exemption. The

 

department of treasury may review the validity of exemptions for

 

the current calendar year and for the 3 immediately preceding

 

calendar years. If the department of treasury determines that the

 

property is not the principal residence of the owner claiming the

 

exemption, the department shall send a notice of that determination

 

to the local tax collecting unit and to the owner of the property

 

claiming the exemption, indicating that the claim for exemption is

 

denied, stating the reason for the denial, and advising the owner

 

claiming the exemption of the right to appeal the determination to

 

the department of treasury and what those rights of appeal are. The

 

department of treasury may issue a notice denying a claim if an

 

owner fails to respond within 30 days of receipt of a request for


 

information from that department. An owner may appeal the denial of

 

a claim of exemption to the department of treasury within 35 days

 

of receipt of the notice of denial. An appeal to the department of

 

treasury shall be conducted according to the provisions for an

 

informal conference in section 21 of 1941 PA 122, MCL 205.21.

 

Within 10 days after acknowledging an appeal of a denial of a claim

 

of exemption, the department of treasury shall notify the assessor

 

and the treasurer for the county in which the property is located

 

that an appeal has been filed. Upon receipt of a notice that the

 

department of treasury has denied a claim for exemption, the

 

assessor shall remove the exemption of the property and, if the tax

 

roll is in the local tax collecting unit's possession, amend the

 

tax roll to reflect the denial and the local treasurer shall within

 

30 days of the date of the denial issue a corrected tax bill for

 

any additional taxes with interest at the rate of 1.25% per month

 

or fraction of a month and penalties computed from the date the

 

taxes were last payable without interest and penalty. If the tax

 

roll is in the county treasurer's possession, the tax roll shall be

 

amended to reflect the denial and the county treasurer shall within

 

30 days of the date of the denial prepare and submit a supplemental

 

tax bill for any additional taxes, together with interest at the

 

rate of 1.25% per month or fraction of a month and penalties

 

computed from the date the taxes were last payable without interest

 

or penalty. Interest on any tax set forth in a corrected or

 

supplemental tax bill shall again begin to accrue 60 days after the

 

date the corrected or supplemental tax bill is issued at the rate

 

of 1.25% per month or fraction of a month. Taxes levied in a


 

corrected or supplemental tax bill shall be returned as delinquent

 

on the March 1 in the year immediately succeeding the year in which

 

the corrected or supplemental tax bill is issued. If the department

 

of treasury denies an existing claim for exemption, the interest

 

due shall be distributed as provided in subsection (23). However,

 

if the property has been transferred to a bona fide purchaser

 

before additional taxes were billed to the seller as a result of

 

the denial of a claim for exemption, the taxes, interest, and

 

penalties shall not be a lien on the property and shall not be

 

billed to the bona fide purchaser, and the local tax collecting

 

unit if the local tax collecting unit has possession of the tax

 

roll or the county treasurer if the county has possession of the

 

tax roll shall notify the department of treasury of the amount of

 

tax due and interest through the date of that notification. The

 

department of treasury shall then assess the owner who claimed the

 

exemption under this section for the tax and interest plus penalty

 

accruing as a result of the denial of the claim for exemption, if

 

any, as for unpaid taxes provided under 1941 PA 122, MCL 205.1 to

 

205.31, and shall deposit any tax or penalty collected into the

 

state school aid fund and shall distribute any interest collected

 

as provided in subsection (23).

 

     (9) The department of treasury may enter into an agreement

 

regarding the implementation or administration of subsection (8)

 

with the assessor of any local tax collecting unit in a county that

 

has not elected to audit exemptions claimed under this section as

 

provided in subsection (10). The agreement may specify that for a

 

period of time, not to exceed 120 days, the department of treasury


 

will not deny an exemption identified by the department of treasury

 

in the list provided under subsection (11).

 

     (10) A county may elect to audit the exemptions claimed under

 

this section in all local tax collecting units located in that

 

county as provided in this subsection. The election to audit

 

exemptions shall be made by the county treasurer, or by the county

 

equalization director with the concurrence by resolution of the

 

county board of commissioners. The initial election to audit

 

exemptions shall require an audit period of 2 years. Subsequent

 

elections to audit exemptions shall be made every 2 years and shall

 

require 2 annual audit periods. An election to audit exemptions

 

shall be made by submitting an election to audit form to the

 

assessor of each local tax collecting unit in that county and to

 

the department of treasury not later than October 1 in the year in

 

which an election to audit is made. The election to audit form

 

required under this subsection shall be in a form prescribed by the

 

department of treasury. If a county elects to audit the exemptions

 

claimed under this section, the department of treasury may continue

 

to review the validity of exemptions as provided in subsection (8).

 

If a county does not elect to audit the exemptions claimed under

 

this section as provided in this subsection, the department of

 

treasury shall conduct an audit of exemptions claimed under this

 

section in the initial 2-year audit period for each local tax

 

collecting unit in that county unless the department of treasury

 

has entered into an agreement with the assessor for that local tax

 

collecting unit under subsection (9).

 

     (11) If a county elects to audit the exemptions claimed under


 

this section as provided in subsection (10) and the county

 

treasurer or his or her designee or the county equalization

 

director or his or her designee believes that the property for

 

which an exemption is claimed is not the principal residence of the

 

owner claiming the exemption, the county treasurer or his or her

 

designee or the county equalization director or his or her designee

 

may deny an existing claim by notifying the owner, the assessor of

 

the local tax collecting unit, and the department of treasury in

 

writing of the reason for the denial and advising the owner that

 

the denial may be appealed to the residential and small claims

 

division of the Michigan tax tribunal within 35 days after the date

 

of the notice. The county treasurer or his or her designee or the

 

county equalization director or his or her designee may deny a

 

claim for exemption for the current year and for the 3 immediately

 

preceding calendar years. If the county treasurer or his or her

 

designee or the county equalization director or his or her designee

 

denies an existing claim for exemption, the county treasurer or his

 

or her designee or the county equalization director or his or her

 

designee shall direct the assessor of the local tax collecting unit

 

in which the property is located to remove the exemption of the

 

property from the assessment roll and, if the tax roll is in the

 

local tax collecting unit's possession, direct the assessor of the

 

local tax collecting unit to amend the tax roll to reflect the

 

denial and the treasurer of the local tax collecting unit shall

 

within 30 days of the date of the denial issue a corrected tax bill

 

for any additional taxes with interest at the rate of 1.25% per

 

month or fraction of a month and penalties computed from the date


 

the taxes were last payable without interest and penalty. If the

 

tax roll is in the county treasurer's possession, the tax roll

 

shall be amended to reflect the denial and the county treasurer

 

shall within 30 days of the date of the denial prepare and submit a

 

supplemental tax bill for any additional taxes, together with

 

interest at the rate of 1.25% per month or fraction of a month and

 

penalties computed from the date the taxes were last payable

 

without interest or penalty. Interest on any tax set forth in a

 

corrected or supplemental tax bill shall again begin to accrue 60

 

days after the date the corrected or supplemental tax bill is

 

issued at the rate of 1.25% per month or fraction of a month. Taxes

 

levied in a corrected or supplemental tax bill shall be returned as

 

delinquent on the March 1 in the year immediately succeeding the

 

year in which the corrected or supplemental tax bill is issued. If

 

the county treasurer or his or her designee or the county

 

equalization director or his or her designee denies an existing

 

claim for exemption, the interest due shall be distributed as

 

provided in subsection (23). However, if the property has been

 

transferred to a bona fide purchaser before additional taxes were

 

billed to the seller as a result of the denial of a claim for

 

exemption, the taxes, interest, and penalties shall not be a lien

 

on the property and shall not be billed to the bona fide purchaser,

 

and the local tax collecting unit if the local tax collecting unit

 

has possession of the tax roll or the county treasurer if the

 

county has possession of the tax roll shall notify the department

 

of treasury of the amount of tax due and interest through the date

 

of that notification. The department of treasury shall then assess


 

the owner who claimed the exemption under this section for the tax

 

and interest plus penalty accruing as a result of the denial of the

 

claim for exemption, if any, as for unpaid taxes provided under

 

1941 PA 122, MCL 205.1 to 205.31, and shall deposit any tax or

 

penalty collected into the state school aid fund and shall

 

distribute any interest collected as provided in subsection (23).

 

The department of treasury shall annually provide the county

 

treasurer or his or her designee or the county equalization

 

director or his or her designee a list of parcels of property

 

located in that county for which an exemption may be erroneously

 

claimed. The county treasurer or his or her designee or the county

 

equalization director or his or her designee shall forward copies

 

of the list provided by the department of treasury to each assessor

 

in each local tax collecting unit in that county within 10 days of

 

receiving the list.

 

     (12) If a county elects to audit exemptions claimed under this

 

section as provided in subsection (10), the county treasurer or the

 

county equalization director may enter into an agreement with the

 

assessor of a local tax collecting unit in that county regarding

 

the implementation or administration of this section. The agreement

 

may specify that for a period of time, not to exceed 120 days, the

 

county will not deny an exemption identified by the department of

 

treasury in the list provided under subsection (11).

 

     (13) An owner may appeal a denial by the assessor of the local

 

tax collecting unit under subsection (6), a final decision of the

 

department of treasury under subsection (8), or a denial by the

 

county treasurer or his or her designee or the county equalization


 

director or his or her designee under subsection (11) to the

 

residential and small claims division of the Michigan tax tribunal

 

within 35 days of that decision. An owner is not required to pay

 

the amount of tax in dispute in order to appeal a denial of a claim

 

of exemption to the department of treasury or to receive a final

 

determination of the residential and small claims division of the

 

Michigan tax tribunal. However, interest at the rate of 1.25% per

 

month or fraction of a month and penalties shall accrue and be

 

computed from the date the taxes were last payable without interest

 

and penalty. If the residential and small claims division of the

 

Michigan tax tribunal grants an owner's appeal of a denial and that

 

owner has paid the interest due as a result of a denial under

 

subsection (6), (8), or (11), the interest received after a

 

distribution was made under subsection (23) shall be refunded.

 

     (14) For taxes levied after December 31, 2005, for each county

 

in which the county treasurer or the county equalization director

 

does not elect to audit the exemptions claimed under this section

 

as provided in subsection (10), the department of treasury shall

 

conduct an annual audit of exemptions claimed under this section

 

for the current calendar year.

 

     (15) An affidavit filed by an owner for the exemption under

 

this section rescinds all previous exemptions filed by that owner

 

for any other property. The department of treasury shall notify the

 

assessor of the local tax collecting unit in which the property for

 

which a previous exemption was claimed is located that the previous

 

exemption is rescinded by the subsequent affidavit. When an

 

exemption is rescinded, the assessor of the local tax collecting


 

unit shall remove the exemption effective December 31 of the year

 

in which the affidavit was filed that rescinded the exemption. For

 

any year for which the rescinded exemption has not been removed

 

from the tax roll, the exemption shall be denied as provided in

 

this section. However, interest and penalty shall not be imposed

 

for a year for which a rescission form has been timely filed under

 

subsection (5).

 

     (16) If the principal residence is part of a unit in a

 

multiple-unit dwelling or a dwelling unit in a multiple-purpose

 

structure, an owner shall claim an exemption for only that portion

 

of the total taxable value of the property used as the principal

 

residence of that owner in a manner prescribed by the department of

 

treasury. If a portion of a parcel for which the owner claims an

 

exemption is used for a purpose other than as a principal

 

residence, the owner shall claim an exemption for only that portion

 

of the taxable value of the property used as the principal

 

residence of that owner in a manner prescribed by the department of

 

treasury.

 

     (17) When a county register of deeds records a transfer of

 

ownership of a property, he or she shall notify the local tax

 

collecting unit in which the property is located of the transfer.

 

     (18) The department of treasury shall make available the

 

affidavit forms and the forms to rescind an exemption, which may be

 

on the same form, to all city and township assessors, county

 

equalization officers, county registers of deeds, and closing

 

agents. A person who prepares a closing statement for the sale of

 

property shall provide affidavit and rescission forms to the buyer


 

and seller at the closing and, if requested by the buyer or seller

 

after execution by the buyer or seller, shall file the forms with

 

the local tax collecting unit in which the property is located. If

 

a closing statement preparer fails to provide exemption affidavit

 

and rescission forms to the buyer and seller, or fails to file the

 

affidavit and rescission forms with the local tax collecting unit

 

if requested by the buyer or seller, the buyer may appeal to the

 

department of treasury within 30 days of notice to the buyer that

 

an exemption was not recorded. If the department of treasury

 

determines that the buyer qualifies for the exemption, the

 

department of treasury shall notify the assessor of the local tax

 

collecting unit that the exemption is granted and the assessor of

 

the local tax collecting unit or, if the tax roll is in the

 

possession of the county treasurer, the county treasurer shall

 

correct the tax roll to reflect the exemption. This subsection does

 

not create a cause of action at law or in equity against a closing

 

statement preparer who fails to provide exemption affidavit and

 

rescission forms to a buyer and seller or who fails to file the

 

affidavit and rescission forms with the local tax collecting unit

 

when requested to do so by the buyer or seller.

 

     (19) An owner who owned and occupied a principal residence on

 

May 1 for which the exemption was not on the tax roll may file an

 

appeal with the July board of review or December board of review in

 

the year for which the exemption was claimed or the immediately

 

succeeding 3 years. If an appeal of a claim for exemption that was

 

not on the tax roll is received not later than 5 days prior to the

 

date of the December board of review, the local tax collecting unit


 

shall convene a December board of review and consider the appeal

 

pursuant to this section and section 53b.

 

     (20) If the assessor or treasurer of the local tax collecting

 

unit believes that the department of treasury erroneously denied a

 

claim for exemption, the assessor or treasurer may submit written

 

information supporting the owner's claim for exemption to the

 

department of treasury within 35 days of the owner's receipt of the

 

notice denying the claim for exemption. If, after reviewing the

 

information provided, the department of treasury determines that

 

the claim for exemption was erroneously denied, the department of

 

treasury shall grant the exemption and the tax roll shall be

 

amended to reflect the exemption.

 

     (21) If granting the exemption under this section results in

 

an overpayment of the tax, a rebate, including any interest paid,

 

shall be made to the taxpayer by the local tax collecting unit if

 

the local tax collecting unit has possession of the tax roll or by

 

the county treasurer if the county has possession of the tax roll

 

within 30 days of the date the exemption is granted. The rebate

 

shall be without interest.

 

     (22) If an exemption under this section is erroneously granted

 

for an affidavit filed before October 1, 2003, an owner may request

 

in writing that the department of treasury withdraw the exemption.

 

The request to withdraw the exemption shall be received not later

 

than November 1, 2003. If an owner requests that an exemption be

 

withdrawn, the department of treasury shall issue an order

 

notifying the local assessor that the exemption issued under this

 

section has been denied based on the owner's request. If an


 

exemption is withdrawn, the property that had been subject to that

 

exemption shall be immediately placed on the tax roll by the local

 

tax collecting unit if the local tax collecting unit has possession

 

of the tax roll or by the county treasurer if the county has

 

possession of the tax roll as though the exemption had not been

 

granted. A corrected tax bill shall be issued for the tax year

 

being adjusted by the local tax collecting unit if the local tax

 

collecting unit has possession of the tax roll or by the county

 

treasurer if the county has possession of the tax roll. Unless a

 

denial has been issued prior to July 1, 2003, if an owner requests

 

that an exemption under this section be withdrawn and that owner

 

pays the corrected tax bill issued under this subsection within 30

 

days after the corrected tax bill is issued, that owner is not

 

liable for any penalty or interest on the additional tax. An owner

 

who pays a corrected tax bill issued under this subsection more

 

than 30 days after the corrected tax bill is issued is liable for

 

the penalties and interest that would have accrued if the exemption

 

had not been granted from the date the taxes were originally

 

levied.

 

     (23) Subject to subsection (24), interest at the rate of 1.25%

 

per month or fraction of a month collected under subsection (6),

 

(8), or (11) shall be distributed as follows:

 

     (a) If the assessor of the local tax collecting unit denies

 

the exemption under this section, as follows:

 

     (i) To the local tax collecting unit, 70%.

 

     (ii) To the department of treasury, 10%.

 

     (iii) To the county in which the property is located, 20%.


 

     (b) If the department of treasury denies the exemption under

 

this section, as follows:

 

     (i) To the local tax collecting unit, 20%.

 

     (ii) To the department of treasury, 70%.

 

     (iii) To the county in which the property is located, 10%.

 

     (c) If the county treasurer or his or her designee or the

 

county equalization director or his or her designee denies the

 

exemption under this section, as follows:

 

     (i) To the local tax collecting unit, 20%.

 

     (ii) To the department of treasury, 10%.

 

     (iii) To the county in which the property is located, 70%.

 

     (24) Interest distributed under subsection (23) is subject to

 

the following conditions:

 

     (a) Interest distributed to a county shall be deposited into a

 

restricted fund to be used solely for the administration of

 

exemptions under this section. Money in that restricted fund shall

 

lapse to the county general fund on the December 31 in the year 3

 

years after the first distribution of interest to the county under

 

subsection (23) and on each succeeding December 31 thereafter.

 

     (b) Interest distributed to the department of treasury shall

 

be deposited into the principal residence property tax exemption

 

audit fund, which is created within the state treasury. The state

 

treasurer may receive money or other assets from any source for

 

deposit into the fund. The state treasurer shall direct the

 

investment of the fund. The state treasurer shall credit to the

 

fund interest and earnings from fund investments. Money in the fund

 

shall be considered a work project account and at the close of the


 

fiscal year shall remain in the fund and shall not lapse to the

 

general fund. Money from the fund shall be expended, upon

 

appropriation, only for the purpose of auditing exemption

 

affidavits.

 

     (25) Interest distributed under subsection (23) is in addition

 

to and shall not affect the levy or collection of the county

 

property tax administration fee established under this act.

 

     (26) A cooperative housing corporation is entitled to a full

 

or partial exemption under this section for the tax year in which

 

the cooperative housing corporation files all of the following with

 

the local tax collecting unit in which the cooperative housing

 

corporation is located if filed on or before May 1:

 

     (a) An affidavit form.

 

     (b) A statement of the total number of units owned by the

 

cooperative housing corporation and occupied as the principal

 

residence of a tenant stockholder as of the date of the filing

 

under this subsection.

 

     (c) A list that includes the name, address, and social

 

security number of each tenant stockholder of the cooperative

 

housing corporation occupying a unit in the cooperative housing

 

corporation as his or her principal residence as of the date of the

 

filing under this subsection.

 

     (d) A statement of the total number of units of the

 

cooperative housing corporation on which an exemption under this

 

section was claimed and that were transferred in the tax year

 

immediately preceding the tax year in which the filing under this

 

section was made.


 

     (27) Before May 1, 2004 and before May 1, 2005, the treasurer

 

of each county shall forward to the department of education a

 

statement of the taxable value of each school district and fraction

 

of a school district within the county for the preceding 4 calendar

 

years. This requirement is in addition to the requirement set forth

 

in section 151 of the state school aid act of 1979, 1979 PA 94, MCL

 

388.1751.