Last week, the Department of Treasury put out information regarding the new law, PA 114 of 2012, which makes changes to the Principal Residence Exemption. The law was SB 349 and it creates an addition filing deadline and creates a conditional rescission for “foreclosure entities.” The League opposed the bill as it went through the legislative process, even though there were many changes that were put in place due to our concerns. The website link and PDF are attached below.
Summer Minnick is the Director of State Affairs for the League. She can be reached at 517-908-0301 or [email protected]