HF 1197

as introduced - 87th Legislature (2011 - 2012) Posted on 03/17/2011 09:56am

A bill for an act
relating to government finance; authorizing temporary transfers from the
metropolitan livable communities fund accounts and the right-of-way loan
acquisition fund for transit operating deficits; modifying funding sources for
metropolitan livable communities fund accounts; amending Minnesota Statutes
2010, section 473.254, subdivision 5.

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

Section 1.

Minnesota Statutes 2010, section 473.254, subdivision 5, is amended to read:

Subd. 5.

Sources of funds.

(a) The council shall credit to the local housing
incentives account any revenues derived from municipalities under subdivision 4,
paragraph (b), clause (1).

(b) The council shall credit $1,000,000 of the proceeds of solid waste bonds issued
by the council under Minnesota Statutes, section 473.831, before its repeal, to the local
housing incentives account in the metropolitan livable communities fund. In 1998 and each
year thereafter new text begin through 2011 new text end , the council shall credit $1,000,000 of the revenues generated
by the levy authorized in section 473.249 to the local housing incentives account.

(c) In 1997, and each year thereafter new text begin through 2011 new text end , the council shall transfer
$500,000 from the livable communities demonstration account to the local housing
incentives account. new text begin In 2012, and each year thereafter, the council shall transfer $1,500,000
from the livable communities demonstration account to the local housing incentives
account.
new text end

Sec. 2. new text begin METROPOLITAN LIVABLE COMMUNITIES FUND; TRANSFERS.
new text end

new text begin (a) Notwithstanding Minnesota Statutes, sections 473.25 to 473.255, or any other
law, the Metropolitan Council may transfer to its transit operating budget in 2011, 2012,
and 2013, up to 50 percent of the sum of balances in, revenues in, and amounts otherwise
credited, transferred, or distributed to, each of the following accounts in 2011, 2012,
and 2013:
new text end

new text begin (1) the tax base revitalization account pursuant to Minnesota Statutes, section
473.252;
new text end

new text begin (2) the livable communities demonstration account pursuant to Minnesota Statutes,
section 473.253; and
new text end

new text begin (3) the local housing incentives account pursuant to Minnesota Statutes, section
473.254.
new text end

new text begin (b) The council may not transfer funds under this section that are committed to
grant or loan awards made by the council.
new text end

new text begin (c) The council shall use any amounts transferred under this section to cover
operating deficits for transit services provided or assisted by the council under Minnesota
Statutes, sections 473.371 to 473.449. If the council transfers funds pursuant to this
section, the council shall amend the annual distribution plan described in Minnesota
Statutes, section 473.25, paragraph (d), and include information about the transfer in the
annual report required under Minnesota Statutes, section 473.25, paragraph (e).
new text end

Sec. 3. new text begin RIGHT-OF-WAY ACQUISITION LOAN FUND; TRANSFERS.
new text end

new text begin (a) Notwithstanding Minnesota Statutes, section 473.167, or any other law, the
Metropolitan Council may transfer to its transit operating budget in 2011, 2012, and
2013, up to 75 percent of the amounts levied and collected in 2011, 2012, and 2013 under
Minnesota Statutes, section 473.167, subdivision 3. The council shall use the amounts
transferred to cover operating deficits for transit services provided or assisted by the
council under Minnesota Statutes, sections 473.371 to 473.449.
new text end

new text begin (b) If the council transfers funds pursuant to this section, the council shall within
two weeks notify the chairs and ranking minority members of the house of representatives
and senate committees with jurisdiction over transportation policy and finance concerning
the transfers.
new text end

Sec. 4. new text begin APPLICATION.
new text end

new text begin Sections 1 to 3 apply in the counties of Anoka, Carver, Dakota, Hennepin, Ramsey,
Scott, and Washington.
new text end

Sec. 5. new text begin EFFECTIVE DATE.
new text end

new text begin Sections 1 to 3 are effective the day following final enactment.
new text end