1.1                          A bill for an act
  1.2             relating to property taxes; limiting contributions to 
  1.3             the areawide tax base; amending Minnesota Statutes 
  1.4             2000, section 473F.07, subdivision 1; proposing coding 
  1.5             for new law in Minnesota Statutes, chapter 473F. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [473F.061] [CONTRIBUTION NET TAX CAPACITY.] 
  1.8      For each municipality in the area, the county auditor shall 
  1.9   certify an amount equal to 40 percent of the amount determined 
  1.10  under section 473F.06 as the municipality's contribution net tax 
  1.11  capacity, provided that a municipality's contribution net tax 
  1.12  capacity as a percentage of the municipality's total net tax 
  1.13  capacity may not exceed the greater of (1) 15 percent, or (2) a 
  1.14  percentage equal to the percentage that the municipality's 
  1.15  contribution net tax capacity was of its total net tax capacity 
  1.16  for taxes payable in 2001. 
  1.17     Sec. 2.  Minnesota Statutes 2000, section 473F.07, 
  1.18  subdivision 1, is amended to read: 
  1.19     Subdivision 1.  [AREAWIDE NET TAX CAPACITY.] Each county 
  1.20  auditor shall certify the determinations under sections 473F.05 
  1.21  and 473F.06 to the administrative auditor on or before August 1 
  1.22  of each year.  
  1.23     The administrative auditor shall determine an amount equal 
  1.24  to ~~40 percent of~~ the sum of the amounts certified under section 
  1.25  ~~473F.06~~ 473F.061.  The resulting amount shall be known as the 
  2.1   "areawide net tax capacity for ........(year)."