HF 3127

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to taxation; changing the deposit of revenues from the sales tax on
motor vehicle leases; amending Minnesota Statutes 2005 Supplement, section
297A.815, by adding a subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2005 Supplement, section 297A.815, is amended by
adding a subdivision to read:

new text begin Subd. 3. new text end

new text begin Deposit of revenues. new text end

new text begin (a) Notwithstanding any law to the contrary, money
collected and received under this section must be deposited as provided in this subdivision.
new text end

new text begin (b) From July 1, 2006, to June 30, 2007, 30.82 percent of the money collected
and received must be deposited in the highway user tax distribution fund, 21.5 percent
must be deposited in the metropolitan area transit fund under section 16A.88, and 1.43
percent must be deposited in the greater Minnesota transit fund under section 16A.88. The
remaining money must be deposited in the general fund.
new text end

new text begin (c) From July 1, 2007, to June 30, 2008, 32 percent of the money collected and
received must be deposited in the highway user tax distribution fund, 20.5 percent must be
deposited in the metropolitan area transit fund under section 16A.88, and 1.25 percent
must be deposited in the greater Minnesota transit fund under section 16A.88. The
remaining money must be deposited in the general fund.
new text end

new text begin (d) From July 1, 2008, to June 30, 2009, 44.25 percent of the money collected and
received must be deposited in the highway user tax distribution fund, 28.025 percent must
be deposited in the metropolitan area transit fund under section 16A.88, 1.475 percent
must be deposited in the greater Minnesota transit fund under section 16A.88. The
remaining money must be deposited in the general fund.
new text end

new text begin (e) From July 1, 2009, to June 30, 2010, 50.25 percent of the money collected and
received must be deposited in the highway user tax distribution fund, 31.825 percent must
be deposited in the metropolitan area transit fund under section 16A.88, 1.675 percent
must be deposited in the greater Minnesota transit fund under section 16A.88. The
remaining money must be deposited in the general fund.
new text end

new text begin (f) From July 1, 2010, to June 30, 2011, 56.25 percent of the money collected and
received must be deposited in the highway user tax distribution fund, 35.625 percent must
be deposited in the metropolitan area transit fund under section 16A.88, 1.875 percent
must be deposited in the greater Minnesota transit fund under section 16A.88. The
remaining money must be deposited in the general fund.
new text end

new text begin (g) On and after July 1, 2011, 60 percent of the money collected and received must
be deposited in the highway user tax distribution fund, 38 percent must be deposited in the
metropolitan area transit fund under section 16A.88, and two percent must be deposited in
the greater Minnesota transit fund under section 16A.88.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2006.
new text end