Michigan HB5875 modifies the exemption from real estate transfer taxes for downtown development authorities to reflect the repeal of the state real.
Michigan HB5875 amends the exemption from real estate transfer taxes for downtown development authorities to reflect the repeal of the state real estate transfer tax act. This change ensures that the authorities remain exempt from transfer taxes as of January 1, 2010. The bill ties its enactment to the passage of HB 5874 and HB 5880, meaning it will only take effect if both are also enacted into law.
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