HF 3639

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; authorizing the city of Moorhead 
  1.3             to impose a tax levy for payment of certain 
  1.4             obligations to which tax increments are pledged. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [TAX LEVY AUTHORIZED.] 
  1.7      Each year the city of Moorhead may impose a tax on all 
  1.8   class 3a and class 3b property located in the city in an amount 
  1.9   which the city determines is equal to the reduction in revenues 
  1.10  from increment from all tax increment financing districts in the 
  1.11  city resulting from the class rate changes and the elimination 
  1.12  of the state-determined general education property levy under 
  1.13  Laws 2001, First Special Session chapter 5.  The proceeds of 
  1.14  this tax may only be used to pay (1) preexisting obligations as 
  1.15  defined in Minnesota Statutes, section 469.1763, subdivision 6, 
  1.16  whether general obligations or payable wholly from tax 
  1.17  increments, and (2) obligations issued in 2002 or later in 
  1.18  accordance with a development assistance agreement dated as of 
  1.19  March 30, 2001, to pay costs of remediating or removing 
  1.20  hazardous substances in a hazardous substance district.  The tax 
  1.21  must be levied and collected in the same manner and as part of 
  1.22  the property tax levied by the city and is subject to the same 
  1.23  administrative, penalty, and enforcement provisions.  A tax 
  1.24  imposed under this section is a special levy and is not subject 
  1.25  to levy limitations under Minnesota Statutes, section 275.71. 
  2.1      [EFFECTIVE DATE.] This section is effective upon approval 
  2.2   by and compliance with Minnesota Statutes, section 645.021, 
  2.3   subdivision 3, by the governing body of the city of Moorhead.