Earlier this month, the Michigan House overwhelmingly passed SB 113, ,legislation that would allow landowners to designate a conservation easement by will, trust or intestate succession, thereby allowing certain heirs to put a conservation easement in place without triggering a pop-up of property taxes. Because the House introduced it's own substitute that mirrors the Senate version, the bill went back to the Senate for concurrence, which is expected in the final week of the lame duck session. From there, it will be presented to the Governor for his signature.
When signed by Governor Snyder, SB 113 will preserve the original intent and extend the benefits of PA 446 of 2006, which exempts transfers of lands with qualified conservation easements from the tax pop-up. Heart of the Lakes sought the bill when the Attorney General opined that property transfers trigger the pop-up tax at death, leaving no time for heirs to put a conservation easement in place before the pop-up occurs if that was the desire of the landowner in his/her will. The bill received strong bipartisan support in both chambers.
When signed by Governor Snyder, SB 113 will preserve the original intent and extend the benefits of PA 446 of 2006, which exempts transfers of lands with qualified conservation easements from the tax pop-up. Heart of the Lakes sought the bill when the Attorney General opined that property transfers trigger the pop-up tax at death, leaving no time for heirs to put a conservation easement in place before the pop-up occurs if that was the desire of the landowner in his/her will. The bill received strong bipartisan support in both chambers.
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