REMONUMENTATION FEES; EXTEND S.B. 1133:
ANALYSIS AS ENACTED
Senate Bill 1133 (as enacted) PUBLIC ACT 271 of 2022
Sponsor: Senator Wayne A. Schmidt
Senate Committee: Economic and Small Business Development
House Committee: Local Government and Municipal Finance (discharged)
CONTENT
The bill amended the Revised Judicature Act to extend, by 20 years, the $4 fee for recording an instrument with the county register of deeds.
Generally, the county register of deeds must collect a fee for recording any instrument (i.e., a deed, assignment, bill of sale, will, trust, beneficiary designation, contract, instrument creating or exercising a power of appointment or a power of attorney, or an instrument under which a property or contract right is created). Formerly, before January 1, 2023, the fee was $4; after that date, the fee would have decreased to $2. The bill continues the $4 fee until January 1, 2043, when the fee will decrease to $2.
(The fees collected from residents recording instruments with the county register of deeds are remitted to the State Treasurer for deposit in the Survey and Remonumentation Fund for use by counties to implement their monumentation and remonumentation plans.)
The bill took effect on December 22, 2022.
MCL 600.2567a Legislative Analyst: Jeff Mann
FISCAL IMPACT
The bill will have a significant positive fiscal impact on State government. Without an extension, the baseline revenue for the State would have decreased $3.5 million per year, beginning on January 1, 2023. Conversely, the bill extends the sunset for the fee and will increase revenue to the Survey and Remonumentation Fund by approximately $3.5 million per year through January 1, 2043.
Jonah Houtz
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.