Michigan § 211.622 Specific tax on mining property before production of ore or construction of plants.

Michigan Statutes

§ 211.622 — Specific tax on mining property before production of ore or construction of plants.

Michigan § 211.622

Ch. 211TAXATION OF REAL AND PERSONAL PROPERTY

Act 77 of 1951TAX ON LOW GRADE IRON ORE (211.621-211.626)

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Bluebook

Mich. Comp. Laws § 211.622 (2026).

Text

TAX ON LOW GRADE IRON ORE (EXCERPT) Act 77 of 1951 211.622 Specific tax on mining property before production of ore or construction of plants. Sec.

2.Before the first calendar year in which production of merchantable ore from a low grade iron ore mining property has been established on a commercial basis, or before the period of construction of the plants for the beneficiation or treatment of low grade iron ore and the period of experimental operation of the plants, the low grade iron ore mining property shall be subject to a specific tax equal to the rated annual capacity of the plant in gross tons multiplied by .55% of the mine value per gross ton, based upon the projected natural iron analysis of the iron ore pellets or of the concentrated and/or agglomerated products, multiplied by th

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TAX ON LOW GRADE IRON ORE (EXCERPT) Act 77 of 1951 211.622 Specific tax on mining property before production of ore or construction of plants. Sec. 2. Before the first calendar year in which production of merchantable ore from a low grade iron ore mining property has been established on a commercial basis, or before the period of construction of the plants for the beneficiation or treatment of low grade iron ore and the period of experimental operation of the plants, the low grade iron ore mining property shall be subject to a specific tax equal to the rated annual capacity of the plant in gross tons multiplied by .55% of the mine value per gross ton, based upon the projected natural iron analysis of the iron ore pellets or of the concentrated and/or agglomerated products, multiplied by the percent of construction completion of the low grade iron ore mining property.

Legislative History

1951, Act 77, Imd. Eff. May 28, 1951 ;-- Am. 1959, Act 147, Eff. Mar. 19, 1960 ;-- Am. 1978, Act 537, Imd. Eff. Dec. 21, 1978 Compiler's Notes: Sec. 2, as amended by Act 324 of 1993, did not take effect pursuant to the terms of the act.