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27 chapters · 407 sections in this title.
Mich. Comp. Laws § 207.271 Specific taxation of underground beneficiated iron ore; definitions.
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Sec. 1. As used in this act: (a) "Underground ore" means iron ore in its natural state which to be mined must be removed through a shaft, incline or adit. (b) "Beneficiated ore" means underground ore which has been treated, but not agglomerated, in accordance with good engineerin…
Mich. Comp. Laws § 207.272 Specific taxation of underground beneficiated iron ore; computation formula; following completion of first agglomerating facility.
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Sec. 2. (1) Beginning with the first full calendar year following the completion, after the effective date of this act, of the first local agglomerating facility, except that for the purpose of determining the first facility, and no other, a facility which also comes within the p…
Mich. Comp. Laws § 207.273 Specific taxation of underground beneficiated iron ore; computation of tax prior to completion of agglomerating or beneficiating facility.
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Sec. 3. (1) Prior to the first full calendar year following the completion of an ore property, the underground ore from which will be agglomerated or beneficiated, or both, in such amounts as to bring the property within the provisions of subdivisions (a), (b), (c) or (d) of subs…
Mich. Comp. Laws § 207.274 Minimum tax.
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Sec. 4. During the first year in which any property is subject to a specific tax under this act, the amount of the tax shall be not less than 75% of the ad valorem taxes levied and assessed against the property in the last year in which ad valorem taxes were levied and assessed a…