HF 3668

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

  1.1                          A bill for an act 
  1.2             relating to education finance; dampening the annual 
  1.3             changes in the sales ratio study; amending Minnesota 
  1.4             Statutes 1998, section 127A.48, subdivision 1. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 1998, section 127A.48, 
  1.7   subdivision 1, is amended to read: 
  1.8      Subdivision 1.  [COMPUTATION.] The department of revenue 
  1.9   must annually conduct an assessment/sales ratio study of the 
  1.10  taxable property in each school district in accordance with the 
  1.11  procedures in subdivisions 2 and 3.  Based upon the results of 
  1.12  this these assessment/sales ratio study studies for the three 
  1.13  most recent years, the department of revenue must determine an 
  1.14  aggregate equalized net tax capacity for the various classes of 
  1.15  taxable property in each district, which tax capacity shall be 
  1.16  designated as the adjusted net tax capacity.  The adjusted net 
  1.17  tax capacities shall be determined using the net tax capacity 
  1.18  percentages in effect for the assessment year following the 
  1.19  assessment year of the study.  The department of revenue must 
  1.20  make whatever estimates are necessary to account for changes in 
  1.21  the classification system.  The department of revenue may incur 
  1.22  the expense necessary to make the determinations.  The 
  1.23  commissioner of revenue may reimburse any county or governmental 
  1.24  official for requested services performed in ascertaining the 
  1.25  adjusted net tax capacity.  On or before March 15 annually, the 
  2.1   department of revenue shall file with the chair of the tax 
  2.2   committee of the house of representatives and the chair of the 
  2.3   committee on taxes and tax laws of the senate a report of 
  2.4   adjusted net tax capacities.  On or before June 15 annually, the 
  2.5   department of revenue shall file its final report on the 
  2.6   adjusted net tax capacities established by the previous year's 
  2.7   assessments and the current year's net tax capacity percentages 
  2.8   with the commissioner of children, families, and learning and 
  2.9   each county auditor for those districts for which the auditor 
  2.10  has the responsibility for determination of local tax rates.  A 
  2.11  copy of the report so filed shall be mailed to the clerk of each 
  2.12  district involved and to the county assessor or supervisor of 
  2.13  assessments of the county or counties in which each district is 
  2.14  located. 
  2.15     Sec. 2.  [EFFECTIVE DATE.] 
  2.16     Section 1 is effective the day following final enactment 
  2.17  for taxes payable in 2001 and later.