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1996-1 Public Acts 232 and 280 of 1995

Public Acts 232 and 280 of 1995

January 16, 1996

To:    County Treasurers

From:    Administrator
             Local Property Services Division

Linked are copies of the above acts.

Public Act 232 went into effect December 19, 1995. This act changes the method of calculating interest rates on Michigan Tax Tribunal Judgments. Please note the major changes underscored in subsection (4) on page 2.

For your information, following is a copy of Bulletin No. 1 issued by the State Tax Commission on January 3, 1996. Note that the established interest rate for calendar year 1996 is 6.55%. For years prior to 1996, the interest must be calculated according to rates outlined in the act.

Public Act 280 became effective on January 9, 1996. It authorizes local units of government to accept credit card payments for a tax, assessment, or fee. A "credit card" is defined in section 1 (a) of the act.

Both acts should be read in their entirety for a better understanding of their content. If you have a legal question, you should contact your prosecuting attorney or legal advisor.

Please pass this information on to the township, city, and village treasurers in your county.

Thank you in advance for your assistance and cooperation. If you have questions, please contact Local Property Services Division at (517) 334-8911.