2002 Minnesota Statutes

     270.708 Application of proceeds of levy. 

    Subdivision 1.    Collection of liability.  Any money 
 realized by proceedings under this chapter, whether by seizure, 
 by surrender under section 270.70, by sale of seized property, 
 by sale of property redeemed by the state of Minnesota (if the 
 interest of the state of Minnesota in the property was a lien 
 arising under the provisions of section 270.69), or by 
 agreement, arrangement, or any other means shall be applied as 
 follows: 

    (a) First, against the expenses of the proceedings; then 

    (b) If the property seized and sold is subject to a tax 
 administered by the commissioner of revenue which has not been 
 paid, the amount remaining after applying clause (a) shall next 
 be applied against the tax liability (and, if the tax was not 
 previously assessed, it shall then be assessed); and 

    (c) The amount, if any, remaining after applying clauses 
 (a) and (b) shall be applied against the tax liability in 
 respect of which the levy was made or the sale was conducted. 

    Subd. 2.    Surplus proceeds.  Any surplus proceeds 
 remaining after the application of subdivision 1 shall, upon 
 application and satisfactory proof in support thereof, be 
 credited or refunded by the commissioner to the person or 
 persons legally entitled thereto.  

    HIST: 1982 c 523 art 2 s 24; 1997 c 84 art 5 s 6; 2002 c 379 
 art 1 s 63