1st Engrossment - 89th Legislature (2015 - 2016) Posted on 03/25/2015 12:33pm
Engrossments | ||
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Introduction | Posted on 03/16/2015 | |
1st Engrossment | Posted on 03/25/2015 |
A bill for an act
relating to taxation; sales and use; clarifying motor vehicle lease sales tax revenue
deposits; amending Minnesota Statutes 2014, section 297A.815, subdivision 3.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2014, section 297A.815, subdivision 3, is amended to
read:
(a) For purposes of this
subdivision, "net revenue" means an amount equal to the revenues, including interest
and penalties, collected under this section, during the fiscal year; less deleted text begin $32,000,000
deleted text end new text begin $28,200,000 in fiscal year 2015, $28,000,000 in fiscal year 2016, and $27,800,000 in fiscal
year 2017 andnew text end in each fiscal year new text begin thereafternew text end .
(b) On or before June 30 of each fiscal year, the commissioner of revenue shall
estimate the amount of the net revenue for the current fiscal year.
(c) On or after July 1 of the subsequent fiscal year, the commissioner of management
and budget shall transfer the net revenue as estimated in paragraph (b) from the general
fund, as follows:
(1) $9,000,000 annually until January 1, 2015, and 50 percent annually thereafter to
the county state-aid highway fund. Notwithstanding any other law to the contrary, the
commissioner of transportation shall allocate the funds transferred under this clause to the
counties in the metropolitan area, as defined in section 473.121, subdivision 4, excluding
the counties of Hennepin and Ramsey, so that each county shall receive of such amount
the percentage that its population, as defined in section 477A.011, subdivision 3, estimated
or established by July 15 of the year prior to the current calendar year, bears to the total
population of the counties receiving funds under this clause; and
(2) the remainder to the greater Minnesota transit account.
new text begin
(d) The revenues deposited under this subdivision do not include the revenues,
including interest and penalties, generated by the sales tax imposed under section
297A.62, subdivision 1a, which must be deposited as provided under the Minnesota
Constitution, article XI, section 15.
new text end
new text begin
This section is effective the day following final enactment.
new text end