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HF 710

as introduced - 89th Legislature (2015 - 2016) Posted on 02/23/2015 03:41pm

KEY: stricken = removed, old language.
underscored = added, new language.
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Engrossments
Introduction Posted on 02/09/2015

Current Version - as introduced

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A bill for an act
 relating to motor vehicles; taxation; modifying allocation of motor vehicle
lease sales tax revenue; amending Minnesota Statutes 2014, section 297A.815,
subdivision 3.

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

Section 1.

Minnesota Statutes 2014, section 297A.815, subdivision 3, is amended to
read:


Subd. 3.

Motor vehicle lease sales tax revenue.

(a) deleted text begin For purposes of this subdivision,
"net revenue" means an amount equal to the revenues, including interest and penalties,
collected under this section, during the fiscal year; less $32,000,000 in each fiscal year.
deleted text end

deleted text begin (b)deleted text end On or before June 30 of each fiscal year, the commissioner of revenue shall
estimate the amount of the deleted text begin net revenuedeleted text end new text begin revenuesnew text end for the current fiscal yearnew text begin , including
interest and penalties collected during the fiscal year under this sectionnew text end .

deleted text begin (c)deleted text end new text begin (b)new text end On or after July 1 of the subsequent fiscal year, the commissioner of
management and budget shall transfer the deleted text begin net revenuedeleted text end new text begin revenues new text end as estimated in paragraph
deleted text begin (b)deleted text end new text begin (a)new text end from the general fund, as follows:

(1) deleted text begin $9,000,000 annually until January 1, 2015, anddeleted text end 50 percent deleted text begin annually thereafterdeleted text end to
the county state-aid highway fund. Notwithstanding any other law to the contrary, the
commissioner of transportation shall allocate the funds transferred under this clause to the
counties in the metropolitan area, as defined in section 473.121, subdivision 4, excluding
the counties of Hennepin and Ramsey, so that each county shall receive of such amount
the percentage that its population, as defined in section 477A.011, subdivision 3, estimated
or established by July 15 of the year prior to the current calendar year, bears to the total
population of the counties receiving funds under this clause; and

(2) deleted text begin the remainderdeleted text end new text begin 50 percentnew text end to the greater Minnesota transit account.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2015.
 new text end