HF 2522

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:31pm

A bill for an act
relating to property taxes; extending the 2010 city market value credit reductions
to 2011 and 2012.

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

Section 1.

new text begin 2011 AND 2012 CITY MARKET VALUE CREDIT REDUCTIONS.
new text end

new text begin In 2011 and 2012, the market value credit reimbursement for each city payable
under Minnesota Statutes, section 273.1384, is reduced by the dollar amount of the 2010
reduction in the market value credit reimbursement for the city due to unallotment under
Minnesota Statutes, section 16A.152, subdivision 4. No city's 2011 or 2012 market value
credit reimbursement is reduced to less than zero under this section. To the extent sufficient
information is available on each payment date, the commissioner shall pay the annual 2011
and 2012 market value credit reimbursement amounts, after reduction under this section,
in equal installments on the dates specified in Minnesota Statutes, section 273.1384.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for aids payable in 2011 and 2012.
new text end