reglab/statecodes huggingface dataset:
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50505 - Election of Chairperson and Vice-Chairperson; State Forester as Executive Director; Qualifications, Duties, and Compensation of Employees; Delegation of Powers or Duties; Rights and Interests of Authority; Annual Report; Audits; Records.

324.50505 Election of chairperson and vice-chairperson; state forester as executive director; qualifications, duties, and compensation of employees; delegation of powers or duties; rights and interests of authority; annual report; audits; records.
Sec. 50505.
(1) The authority shall elect a chairperson and a vice-chairperson from among its members. The state forester shall serve as the executive director of the authority. The authority may employ legal and technical experts and other officers, agents, or employees, permanent or temporary, paid from the funds of the authority. The authority shall determine the qualifications, duties, and compensation of those it employs, but an employee shall not be paid a higher salary than the director. The authority may delegate to 1 or more members, officers, agents, or employees any powers or duties it considers proper.
(2) The authority shall contract with the department for the purpose of maintaining and improving the rights and interests of the authority.
(3) The authority shall annually file a written report on its activities of the last year with the legislature. This report shall be submitted not later than 270 days following the end of the fiscal year. This report shall specify the amount and source of revenues received, the status of investments made, and a description of the forest management practices undertaken by the department with proceeds of bonds sold under this part.
(4) The accounts of the authority shall be subject to annual audits by the state auditor general or a certified public accountant appointed by the auditor general. Records shall be maintained according to generally accepted auditing principles.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Compiler's Notes:
For abolishment of position of executive director of Michigan forest finance authority, see E.R.O. No. 2010-2, compiled at MCL 12.194.
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50508 - Department as Agent for Authority; Conveyance of State's Interest in Contracts Granting Timber Cutting Rights; Deposit of Money Received; Conveyance of Title to Timber.

324.50508 Department as agent for authority; conveyance of state's interest in contracts granting timber cutting rights; deposit of money received; conveyance of title to timber.
Sec. 50508.
(1) Except as provided in section 50507(3), the department shall act as the agent for the authority in contracting for the cutting and sale of timber or other forest management operations and practices undertaken by the authority.
(2) The state's interest in all existing and future contracts granting timber cutting rights on state tax reverted lands are conveyed to the authority to be used for any of the purposes of this part subject to the restrictions of this part. The money received by the state from existing or future contracts for the cutting and sale of timber on state tax reverted lands, on lands in the state forest system from which revenues derived from the sale of timber were previously deposited in the forest management fund created in former 1945 PA 268, and on other lands as provided by law shall be deposited in the forest development fund and utilized as provided in section 50507(4).
(3) In order to provide for additional security for indebtedness of the authority, the department may convey to the authority title to timber on all or any portion of tax reverted lands, on lands in the state forest system from which revenues derived from the sale of timber were previously deposited in the forest management fund created in former 1945 PA 268, and on other lands as provided by law. The form of conveyance shall be approved by the attorney general and by resolution of the state administrative board. If the authority receives title to any timber, it may release and reconvey timber on state tax reverted lands, on lands in the state forest system from which revenues derived from the sale of timber were previously deposited in the forest management fund created in former 1945 PA 268, and on other lands as provided by law if requested by the department, and the reconveyance from the authority to the department will not cause the authority to default on any obligation or covenant contained in any resolution of the authority authorizing issuance of bonds or notes.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995 ;-- Am. 2004, Act 124, Imd. Eff. May 28, 2004
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50509 - Bonds and Notes Generally; Expenses; Expenditures.

324.50509 Bonds and notes generally; expenses; expenditures.
Sec. 50509.
(1) The authority may authorize and issue its bonds or notes payable solely from the revenues or funds available to the authority. Bonds and notes of the authority are not a debt or liability of the state and do not create or constitute any indebtedness, liability, or obligations of the state or constitute a pledge of the faith and credit of the state. All authority bonds and notes shall be payable solely from revenues or funds pledged or available for their payment as authorized in this part. Each bond and note shall contain on its face a statement to the effect that the authority is obligated to pay the principal of and the interest on the bond or note only from revenues or funds of the authority pledged for the payment of principal and interest and that the state is not obligated to pay that principal or interest and that neither the faith and credit nor the taxing power of the state is pledged to the payment of the principal of or the interest on the bond or note.
(2) All expenses incurred in carrying out this part shall be payable solely from revenues or funds provided or to be provided under this part. This part does not authorize the authority to incur any indebtedness or liability on behalf of or payable by the state.
(3) Any revenues or funds available to the authority that are not necessary to pay principal of or interest on any outstanding bonds or notes of the authority or which are not required to be deposited in a fund created to secure the bonds or notes of the authority or required to provide for the funding of any other matters required by a resolution authorizing the issuance of bonds or notes of the authority shall be expended to fund forest management programs in a manner prescribed by the department. Any money derived from the proceeds of bonds or notes shall be expended by the authority in the manner prescribed in the part and the resolution authorizing such indebtedness.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50511 - Refunding Bonds or Notes.

324.50511 Refunding bonds or notes.
Sec. 50511.
(1) The authority may provide for the issuance of bonds or notes in the amounts the authority considers necessary for the purpose of refunding bonds or notes of the authority then outstanding, including the payment of any redemption premium and interest accrued or to accrue to the earliest or subsequent date of redemption, purchase, or maturity of these bonds or notes. The proceeds of bonds or notes issued for the purpose of refunding outstanding bonds or notes may be applied by the authority to the purchase or retirement at maturity or redemption of outstanding bonds or notes either on the earliest or subsequent redemption date, and pending such applications, may be placed in escrow to be applied to the purchase or retirement at maturity or redemption on the date or dates determined by the authority. Pending such application and subject to agreements with noteholders or bondholders, the escrowed proceeds may be invested and reinvested in the manner the authority determines, maturing at the date or times as appropriate to assure the prompt payment of the principal, interest, and redemption premium, if any, on the outstanding bonds or notes to be refunded. After the terms of the escrow have been fully satisfied and carried out, the balance of the proceeds and interest, income, and profits, if any, earned or realized on the investment of the proceeds shall be returned to the authority for use by the authority in any lawful manner.
(2) In the resolution authorizing bonds or notes to refund bonds or notes, the authority may provide that the bonds or notes to be refunded shall be considered paid when there has been deposited in escrow, money or investment obligations that would provide payments of principal and interest adequate to pay the principal and interest on the bonds to be refunded, as that principal and interest becomes due whether by maturity or prior redemption and that, upon the deposit of the money or investment obligations, the obligations of the authority to the holders of the bonds or notes to be refunded shall be terminated except as to the rights to the money or investment obligations deposited in trust.
(3) The authority shall not have outstanding at any time bonds or notes in an aggregate principal amount exceeding $20,000,000.00 excluding bonds or notes issued to refund outstanding bonds or notes.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50512 - Security to Assure Timely Payment of Bond or Note.

324.50512 Security to assure timely payment of bond or note.
Sec. 50512.
(1) The authority may authorize and approve an insurance contract, an agreement for a line of credit, a letter of credit, a commitment to purchase notes or bonds, an agreement to remarket bonds or notes, and any other transaction to provide security to assure timely payment of a bond or note.
(2) The authority may authorize payment from the proceeds of the notes or bonds, or other funds available, of the cost of issuance including, but not limited to, fees for placement, charges for insurance, letters of credit, lines of credit, remarketing agreements, reimbursement agreements, or purchase or sales agreements or commitments, or agreements to provide security to assure timely payment of notes or bonds.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50513 - Bonds or Notes; Authority of Board Member, Executive Director, or Other Officer of Authority.

324.50513 Bonds or notes; authority of board member, executive director, or other officer of authority.
Sec. 50513.
Within limitations that shall be contained in the issuance or authorization resolution of the authority, the authority may authorize a member of the board, the executive director, or other officer of the authority to do 1 or more of the following:
(a) Sell and deliver, and receive payment for notes or bonds.
(b) Refund notes or bonds by the delivery of new notes or bonds whether or not the notes or bonds to be refunded have matured or are subject to redemption.
(c) Deliver notes or bonds, partly to refund notes or bonds and partly for any other authorized purpose.
(d) Buy notes or bonds so issued and resell those notes or bonds.
(e) Approve interest rates or methods for fixing interest rates, prices, discounts, maturities, principal amounts, denominations, dates of issuance, interest payment dates, redemption rights at the option of the authority or the holder, the place of delivery and payment, and other matters and procedures necessary to complete the transactions authorized.
(f) Direct the investment of any and all funds of the authority.
(g) Approve the terms of a contract, including, but not limited to, a contract for the sale or cutting of timber, and execute and deliver the contract subject to the restrictions of this part.
(h) Approve terms of any insurance contract, agreement for a line of credit, a letter of credit, a commitment to purchase notes or bonds, an agreement to remarket bonds or notes, an agreement to manage payment, revenue, or interest rate exposure, or any other transaction to provide security to assure timely payment of a bond or note.
(i) Perform any power, duty, function, or responsibility of the authority.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50515 - Pledge.

324.50515 Pledge.
Sec. 50515.
A pledge made by the authority shall be valid and binding from the time the pledge is made. The money or property pledged and then received by the authority immediately is subject to the lien of the pledge without a physical delivery or further act. The lien of a pledge is valid and binding as against parties having claims of any kind in tort, contract, or otherwise against the authority, and is valid and binding as against the transfers of the money or property pledged, irrespective of whether parties have notice. Neither the resolution, the trust agreement, nor any other instrument by which a pledge is created need be recorded in order to establish and perfect a lien or security interest in the property so pledged.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50516 - Personal Liability on Bonds or Notes.

324.50516 Personal liability on bonds or notes.
Sec. 50516.
Neither the members of the authority nor any person executing bonds or notes issued under this part or any person executing any agreement on behalf of the authority is liable personally on the bonds or notes by reason of their issuance.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50517 - Purchasing, Holding, Canceling, or Reselling Bonds or Notes.

324.50517 Purchasing, holding, canceling, or reselling bonds or notes.
Sec. 50517.
The authority may purchase bonds or notes of the authority out of funds or money of the authority available for that purpose. The authority may hold, cancel, or resell authority bonds or notes subject to or in accordance with an agreement with holders of authority bonds or notes.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50518 - Rights and Remedies.

324.50518 Rights and remedies.
Sec. 50518.
The state pledges to and agrees with the holders of bonds or notes issued under this part that the state shall not limit or restrict the rights vested in the authority by this part to fulfill the terms of an agreement made with the holders of authority bonds or notes, or in any way impair the rights or remedies of the holders of the bonds or notes of the authority until the bonds and notes, together with interest on the bonds or notes and interest on any unpaid installments of interest, and all costs and expenses in connection with an action or proceedings by or on behalf of those holders are fully met, paid, and discharged.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50519 - Bonds or Notes as Legal Investments; Security.

324.50519 Bonds or notes as legal investments; security.
Sec. 50519.
Notwithstanding any restriction contained in any other law, the state and a public officer, local unit of government, or agency of the state or a local unit of government; a bank, trust company, savings bank and institution, savings and loan association, investment company, or other person carrying on a banking business; an insurance company, insurance association, or other person carrying on an insurance business; or an executor, administrator, guardian, trustee, or other fiduciary may legally invest funds belonging to them or within their control in bonds or notes issued under this part, and authority bonds or notes shall be authorized security for public deposits.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50520 - Property and Income of Authority; Exemption From Taxes and Special Assessments; Bonds or Notes Exempt From Taxation.

324.50520 Property and income of authority; exemption from taxes and special assessments; bonds or notes exempt from taxation.
Sec. 50520.
Property of the authority is public property devoted to an essential public and governmental function and purpose. Income of the authority is considered to be for a public purpose. The property of the authority and its income and operation are exempt from all taxes and special assessments of the state or a political subdivision of the state. Bonds or notes issued by the authority, and the interest on and income from those bonds and notes, are exempt from all taxation of the state or a political subdivision of the state.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50521 - Liberal Construction; Broad Interpretation.

324.50521 Liberal construction; broad interpretation.
Sec. 50521.
This part shall be construed liberally to effectuate the legislative intent and the purposes as complete and independent authority for the performance of each and every act and thing authorized by this part, and all powers granted shall be broadly interpreted to effectuate the intent and purposes and not as a limitation of powers.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-505 - Part 505 Michigan Forest Finance Authority (324.50501...324.50522) › Section 324.50522 - Rules.

324.50522 Rules.
Sec. 50522.
The authority may promulgate rules as necessary to implement this part.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-507 - Part 507 Forest Management Demonstration Program (324.50701...324.50707) › Section 324.50701 - Conveyance by Department of Leasehold Interest in State-Owned Property to Certain Counties; Designation of Forest Lands to Be Leased; Maximum Term of Leasehold Interest; Renewal; Recreational Use of Property During Leasehold.

324.50701 Conveyance by department of leasehold interest in state-owned property to certain counties; designation of forest lands to be leased; maximum term of leasehold interest; renewal; recreational use of property during leasehold.
Sec. 50701.
(1) In a county in which more than 50% of the land is owned by the state and in which the county annual average unemployment rate exceeds the state annual average unemployment rate, as determined by the Michigan employment security commission, due to reductions in staff at a state facility located in the county, the department is authorized to convey a leasehold interest, without monetary consideration, to the county in not more than 1% of the state owned property located in the county and under the control of the department. The county forestry committee created pursuant to section 50703, in cooperation with the department, shall designate the specific sections of property to be leased. The property designated pursuant to this subsection shall not include forest lands located in state parks or lands useful for forest preserves, game areas, and recreational purposes, including wilderness areas, quiet areas, or other special use areas. The property designated pursuant to this subsection shall consist of forest lands previously designated by the department for timber production and suitable for use in the forest management demonstration program established pursuant to this part.
(2) The term of a leasehold interest authorized by this part shall not exceed 15 years, but the leasehold interest shall be renewable for an additional 15 years if the primary objectives of the forest management demonstration program established pursuant to this part are met, as determined by the department.
(3) During the term of the leasehold interest authorized by this part, the leased property shall be open to the public for hunting, fishing, and other recreational uses as considered appropriate by the department.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-507 - Part 507 Forest Management Demonstration Program (324.50701...324.50707) › Section 324.50702 - Use of Leased Property; Purposes; Use and Disposition of Proceeds; Implementation of Forest Management Demonstration Program.

324.50702 Use of leased property; purposes; use and disposition of proceeds; implementation of forest management demonstration program.
Sec. 50702.
(1) The property leased pursuant to this part shall be used by the county only for the following purposes:
(a) To establish a forest management demonstration program to produce forest products for the purpose of economic development in the county.
(b) To make forest land available to the local school districts for educational purposes.
(2) The proceeds from the forest management demonstration program shall be used exclusively for economic development in the county and, if the county has established an economic development corporation under the economic development corporations act, Act No. 338 of the Public Acts of 1974, being sections 125.1601 to 125.1636 of the Michigan Compiled Laws, shall be deposited in the fund of the county established pursuant to section 27 of Act No. 338 of the Public Acts of 1974, being section 125.1627 of the Michigan Compiled Laws. If the county economic development corporation is dissolved, the proceeds from the forest management demonstration program shall be transferred to and deposited in the general fund of the county. If the county has not established an economic development corporation, the proceeds from the forest management demonstration project shall be deposited in the general fund of the county. The forest management demonstration program shall be implemented by the county forestry committee created pursuant to section 50703. In implementing the forest management demonstration program, the county forestry committee shall cooperate with the department in all matters pertaining to forest management.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-507 - Part 507 Forest Management Demonstration Program (324.50701...324.50707) › Section 324.50703 - County Forestry Committee; Creation; Appointment, Qualifications, and Terms of Members; Approval of Committee Actions; Vacancy.

324.50703 County forestry committee; creation; appointment, qualifications, and terms of members; approval of committee actions; vacancy.
Sec. 50703.
A county forestry committee is created for purposes of this part and shall consist of 5 members who shall be appointed by the county board of commissioners. Two members of the county forestry committee shall be foresters registered under part 535, 1 member shall be a member of the county economic development corporation, 1 member shall be a member of the county board of commissioners, and 1 member shall be a resident of the county who is not a county official or employee. If the county has not established an economic development corporation under the economic development corporations act, 1974 PA 338, MCL 125.1601 to 125.1636, 2 members shall be residents of the county who are not county officials or employees. The members of the county forestry committee shall be appointed for a term of 4 years, except that of the first appointments, 2 shall be for a term of 4 years, 1 shall be for a term of 3 years, 1 shall be for a term of 2 years, and 1 shall be for a term of 1 year. All actions of the county forestry committee shall be approved by the county board of commissioners. A vacancy on the county forestry committee shall be filled by the county board of commissioners for the remainder of the unexpired term.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995 ;-- Am. 2018, Act 116, Eff. July 25, 2018
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-507 - Part 507 Forest Management Demonstration Program (324.50701...324.50707) › Section 324.50704 - Instrument Conveying Leasehold Interest; Approval by Attorney General.

324.50704 Instrument conveying leasehold interest; approval by attorney general.
Sec. 50704.
An instrument conveying a leasehold interest in real property authorized by this part shall be approved by the attorney general.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-507 - Part 507 Forest Management Demonstration Program (324.50701...324.50707) › Section 324.50705 - Conveyance to Provide for Use of Property; Termination of Lease.

324.50705 Conveyance to provide for use of property; termination of lease.
Sec. 50705.
The conveyance authorized by this part shall provide that the property be used exclusively for the purposes set forth in section 50702(1), and that termination of either or both of those purposes or the use of the property for any other purpose constitutes grounds for termination of the lease.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-507 - Part 507 Forest Management Demonstration Program (324.50701...324.50707) › Section 324.50706 - Submission of Forest Management Plan.

324.50706 Submission of forest management plan.
Sec. 50706.
Within 30 days after the execution of a lease authorized by this part, the county forestry committee shall submit to the department for approval a forest management plan prepared by a forester registered under part 535.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995 ;-- Am. 2018, Act 116, Eff. July 25, 2018
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY - The Timber Industry (324.50101...324.50707) › 451-1994-III-2-4-THE-TIMBER-INDUSTRY-507 - Part 507 Forest Management Demonstration Program (324.50701...324.50707) › Section 324.50707 - Conveyance of Leasehold.

324.50707 Conveyance of leasehold.
Sec. 50707.
A leasehold interest authorized by this part shall be conveyed by the department by October 8, 1982.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-TAX-INCENTIVES - Tax Incentives (324.51101...324.51312) › 451-1994-III-2-4-TAX-INCENTIVES-511 - Part 511 Commercial Forests (324.51101...324.51120) › Section 324.51102 - Commercial Forest; Scope and Authority of Department; Rules.

324.51102 Commercial forest; scope and authority of department; rules.
Sec. 51102.
The department shall establish and maintain commercial forests and may promulgate and enforce rules as necessary to accomplish the purpose of this part.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995 ;-- Am. 2013, Act 48, Imd. Eff. June 6, 2013
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-TAX-INCENTIVES - Tax Incentives (324.51101...324.51312) › 451-1994-III-2-4-TAX-INCENTIVES-511 - Part 511 Commercial Forests (324.51101...324.51120) › Section 324.51104 - Forestland; Evaluation; Hearing; Notice; Conduct; Approval; Record.

324.51104 Forestland; evaluation; hearing; notice; conduct; approval; record.
Sec. 51104.
(1) Upon receipt of the application, the forest management plan certification, the timber rights certification, and the application fee described in section 51103, the department shall evaluate the forestland offered and fix a date for a public hearing upon the eligibility of the forestland for determination as a commercial forest. The hearing shall be held in the county where the land is located not later than November 1 following receipt of the application. Applications offering lands in the same county may be heard on the same day and at the same place. The department shall publish a notice of hearing and a list of the legal descriptions of lands being considered for determination as commercial forests in a newspaper of general circulation in the county in which the land is located. The notice of hearing shall be published at least 20 days before the date of the hearing. At the time of publication, the department shall provide a copy of the notice of hearing and a list of descriptions of land in each township to be considered for determination as a commercial forest to each township supervisor in whose township the lands are located. Any person who wishes may testify as to eligibility for determination as a commercial forest of any of the described lands. The hearing shall be conducted by the department.
(2) After the hearing, if the department determines that the applicant and forestland meet the requirements of this part and determines that all valid taxes assessed against that forestland have been paid, the department shall approve the application. Upon approval of the application, the department shall immediately record a listing certificate in the register of deeds office in the county in which the land is located with the department approval endorsed on the listing certificate and forward a copy of the listing certificate to the applicant and to the township supervisor of the township in which the land is located.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-TAX-INCENTIVES - Tax Incentives (324.51101...324.51312) › 451-1994-III-2-4-TAX-INCENTIVES-511 - Part 511 Commercial Forests (324.51101...324.51120) › Section 324.51106 - Acreage as Commercial Forestlands; Certifying to State Treasurer; Payment to County Treasurer; Distribution of Remaining Funds; Payment in Full Required.

324.51106 Acreage as commercial forestlands; certifying to state treasurer; payment to county treasurer; distribution of remaining funds; payment in full required.
Sec. 51106.
(1) By November 1 of each year, the department shall certify to the state treasurer the number of acres that are commercial forestlands in each county. By December 1 of each year, the state treasurer shall transmit to the treasurer of each county in which these commercial forests are located a warrant on the state treasurer for an amount equal to $1.30 per acre of commercial forest in the county. Beginning January 1, 2022 and every 5 years after that date, the amount of the annual payment under this section shall be increased by 5 cents per acre.
(2) From the payments received under subsection (1), the county treasurer of each county shall distribute an amount equal to 25 cents per acre for each acre of commercial forest in the county in the same proportions between the various funds as the ad valorem general property tax is distributed by the township treasurers in each township. Except as provided by section 51109(2), the county treasurer of each county shall distribute the remainder of the funds received under this section in the same manner and in the same proportion as the ad valorem general property tax is distributed.
(3) This state shall make payment in full to each county under this section.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995 ;-- Am. 2006, Act 382, Imd. Eff. Sept. 27, 2006 ;-- Am. 2012, Act 604, Imd. Eff. Jan. 9, 2013 ;-- Am. 2018, Act 239, Eff. Sept. 25, 2018
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-TAX-INCENTIVES - Tax Incentives (324.51101...324.51312) › 451-1994-III-2-4-TAX-INCENTIVES-511 - Part 511 Commercial Forests (324.51101...324.51120) › Section 324.51107 - Repealed. 2006, Act 383, Imd. Eff. Sept. 27, 2006

324.51107 Repealed. 2006, Act 383, Imd. Eff. Sept. 27, 2006
Compiler's Notes:
The repealed section pertained to adjustment of annual specific tax and state payment computed by using state equalized value per acre of timber cutover lands.
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-TAX-INCENTIVES - Tax Incentives (324.51101...324.51312) › 451-1994-III-2-4-TAX-INCENTIVES-511 - Part 511 Commercial Forests (324.51101...324.51120) › Section 324.51110 - Cutting, Harvesting, or Removing Forest Products Prohibited; Exceptions.

324.51110 Cutting, harvesting, or removing forest products prohibited; exceptions.
Sec. 51110.
(1) Except as provided in subsection (2), a person shall not cut, harvest, or remove forest products from a commercial forest.
(2) The owner of a commercial forest is entitled to cut or remove merchantable forest products on his or her commercial forest without withdrawing it or affecting its status as a commercial forest and without payment of a fee or penalty if the owner complies with all of the following:
(a) After an owner certifies to the department that a forest management plan has been prepared and is in effect under section 51103 and cuts, harvests, or removes forest products in compliance with his or her forest management plan.
(b) All other requirements of this part.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA
2023 Michigan Compiled Laws › Chapter 324 - Natural Resources and Environmental Protection › Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106) › Article III - Natural Resources Management (324.30101...324.83109) › 451-1994-III-2 - Chapter 2 Management of Renewable Resources (324.40101...324.53519) › 451-1994-III-2-4 - Subchapter 4 Forests (324.50101...324.53519) › 451-1994-III-2-4-TAX-INCENTIVES - Tax Incentives (324.51101...324.51312) › 451-1994-III-2-4-TAX-INCENTIVES-511 - Part 511 Commercial Forests (324.51101...324.51120) › Section 324.51111 - Report to Department.

324.51111 Report to department.
Sec. 51111.
The owner shall report to the department prior to the cutting, harvesting, or removal of forest products from the commercial forest.
History:
Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name:
Act 451
Popular Name:
NREPA