Michigan · statute · 77 of 1951, Mich. Comp. Laws · 6 active provisions
As used in this act: (a) "Low grade iron ore" means iron-bearing rock, also known as iron formation, jasper, ferruginous chert, or ferruginous slate, that is not merchantable as ore in its natural state and from which a merchantable product can be produced only by beneficiation or treatment involving fine grinding. (b)…
Before the first calendar year in which production of merchantable ore from a low grade iron ore mining property has been established on a commercial basis, or before the period of construction of the plants for the beneficiation or treatment of low grade iron ore and the period of experimental operation of the plants,…
(1) Beginning with the first calendar year after production of merchantable ore from a low grade iron ore mining property has been established on a commercial basis, the low grade iron ore mining property shall be subject to a specific tax equal to the average annual production in gross tons during the preceding 5-year…
(1) If the specific tax determined under section 3 is less than the specific tax determined under section 2, then section 2 shall govern. (2) The township supervisor shall remove from the list of land descriptions assessed and taxed under the general property tax act, 1893 PA 206, MCL 211.1 to 211.157, the land descrip…
The purpose of this act is to encourage commercial development of and uniform production from low grade mineral resources in the state of Michigan.
There is appropriated from the general fund $1,651,000.00 for reimbursement of governmental units and school districts for the amount by which property tax revenue, excluding revenue included in the calculation of payments made under section 21(1) of the state school aid act of 1979, Act No. 94 of the Public Acts of 19…