HF 2985

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; changing the calculation of 
  1.3             property tax levy limits to eliminate deduction for 
  1.4             certain mining tax distributions; amending Minnesota 
  1.5             Statutes 1999 Supplement, section 275.71, subdivision 
  1.6             4. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 1999 Supplement, section 
  1.9   275.71, subdivision 4, is amended to read: 
  1.10     Subd. 4.  [PROPERTY TAX LEVY LIMIT.] For taxes levied in 
  1.11  1998 and 1999, the property tax levy limit for a local 
  1.12  governmental unit is equal to its adjusted levy limit base 
  1.13  determined under subdivision 3 plus any additional levy 
  1.14  authorized under section 275.73, which is levied against net tax 
  1.15  capacity, reduced by the sum of (1) the total amount of aids 
  1.16  that the local governmental unit is certified to receive under 
  1.17  sections 477A.011 to 477A.014, (2) homestead and agricultural 
  1.18  aids it is certified to receive under section 273.1398, (3) 
  1.19  local performance aid it is certified to receive under section 
  1.20  477A.05, (4) taconite aids under sections 298.28 and 298.282 
  1.21  including any aid which was required to be placed in a special 
  1.22  fund for expenditure in the next succeeding year but excluding 
  1.23  amounts allocated under section 298.28, subdivision 2, paragraph 
  1.24  (b), (5) flood loss aid under section 273.1383, and (6) 
  1.25  low-income housing aid under sections 477A.06 and 477A.065. 
  1.26     Section 2.  [EFFECTIVE DATE.] 
  2.1      Section 1 is effective for taxes levied in 1999, payable in 
  2.2   2000.  If levy limits are extended for an additional period by 
  2.3   the 2000 legislature, section 1 is also effective for the period 
  2.4   of the extension.