HF 1611

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; providing for certain taconite 
  1.3             production tax distributions; amending Minnesota 
  1.4             Statutes 2000, section 298.225, subdivision 1. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 2000, section 298.225, 
  1.7   subdivision 1, is amended to read: 
  1.8      Subdivision 1.  (a) The distribution of the taconite 
  1.9   production tax as provided in section 298.28, subdivisions 2 3 
  1.10  to 5, 6, paragraph (b), 7, and 8, shall equal the lesser of the 
  1.11  following amounts:  
  1.12     (1) the amount distributed pursuant to this section and 
  1.13  section 298.28, with respect to 1983 production if the 
  1.14  production for the year prior to the distribution year is no 
  1.15  less than 42,000,000 taxable tons.  If the production is less 
  1.16  than 42,000,000 taxable tons, the amount of the distributions 
  1.17  shall be reduced proportionately at the rate of two percent for 
  1.18  each 1,000,000 tons, or part of 1,000,000 tons by which the 
  1.19  production is less than 42,000,000 tons; or 
  1.20     (2)(i) for the distributions made pursuant to section 
  1.21  298.28, subdivisions 4, paragraphs (b) and (c), and 6, paragraph 
  1.22  (c), 40.5 percent of the amount distributed pursuant to this 
  1.23  section and section 298.28, with respect to 1983 production; 
  1.24     (ii) for the distributions made pursuant to section 298.28, 
  1.25  subdivision 5, paragraphs (b) and (d), 75 percent of the amount 
  2.1   distributed pursuant to this section and section 298.28, with 
  2.2   respect to 1983 production.  
  2.3      (b) The distribution of the taconite production tax as 
  2.4   provided in section 298.28, subdivision 2, shall equal the 
  2.5   following amount: 
  2.6      (1) if the production for the year prior to the 
  2.7   distribution year is at least 42,000,000 taxable tons, the 
  2.8   amount distributed pursuant to this section and section 298.28, 
  2.9   with respect to 1999 production; or 
  2.10     (2) if the production for the year prior to the 
  2.11  distribution year is less than 42,000,000 taxable tons, the 
  2.12  amount distributed pursuant to this section and section 298.28 
  2.13  with respect to 1999 production, reduced proportionately at the 
  2.14  rate of two percent for each 1,000,000 tons or part of 1,000,000 
  2.15  tons by which the production is less than 42,000,000 tons. 
  2.16     [EFFECTIVE DATE; RETROACTIVE APPLICATION.] This section is 
  2.17  effective for distributions in 2001 and thereafter.  For the 
  2.18  distribution paid in February 2001 only, as soon as practicable 
  2.19  after the date of final enactment of this act, the commissioner 
  2.20  of Iron Range Resources and Rehabilitation shall pay two-thirds 
  2.21  of any additional amounts required under this section from the 
  2.22  taconite environmental protection fund and one-third of any 
  2.23  additional amounts required under this section from the 
  2.24  northeast Minnesota economic protection trust fund, as directed 
  2.25  by the commissioner of revenue.