2002 Minnesota Statutes

     477A.07 Rental housing tax base replacement aid. 

    Subdivision 1.    Aid amount.  (a) For aid payable in 
 2003, each county and city is eligible for aid equal to the 
 amount by which (i) 0.3 percent of the assessment year 2001 
 taxable market value of class 4a property, plus 0.25 percent of 
 the assessment year 2001 market value of class 4b property, as 
 defined in section 273.13, subdivision 25, multiplied by the 
 jurisdiction's average tax rate for taxes payable in 2002, 
 exceeds (ii) 0.4 percent of the jurisdiction's total taxable net 
 tax capacity for taxes payable in 2002. 

    (b) For aid payable in 2004, each county and city is 
 eligible for aid equal to the amount by which (i) 0.25 percent 
 of the assessment year 2002 taxable market value of class 4a 
 property, as defined in section 273.13, subdivision 25, 
 multiplied by the jurisdiction's average tax rate for taxes 
 payable in 2003, exceeds (ii) 0.4 percent of the jurisdiction's 
 total taxable net tax capacity for taxes payable in 2003. 

    Subd. 2.    County aid.  Each county's aid amount for 
 2003 determined under subdivision 1 must be added to the 
 county's 2003 homestead and agricultural credit aid determined 
 under section 273.1398, subdivision 2, and paid in 2003 as part 
 of the county's homestead and agricultural credit aid.  It then 
 becomes a permanent part of the county's homestead and 
 agricultural credit aid base for aid payable in 2004.  Each 
 county's aid amount for 2004 determined under subdivision 1 must 
 be added to the county's 2004 homestead and agricultural credit 
 aid determined under section 273.1398, subdivision 2, and paid 
 in 2004 as part of the county's homestead and agricultural 
 credit aid.  It then becomes a permanent part of the county's 
 homestead and agricultural credit aid base for aid payable in 
 2005. 

    Subd. 3.    City aid.  Each city's 2003 aid amount 
 determined under subdivision 1 must be permanently added to its 
 city aid base under section 477A.011, subdivision 36, and the 
 maximum amount of total aid it may receive under section 
 477A.013, subdivision 9, paragraph (b) or (c), is increased by 
 the same amount for aid payable in 2003.  Each city's 2004 aid 
 amount determined under subdivision 1 must be permanently added 
 to its city aid base under section 477A.011, subdivision 36, and 
 the maximum amount of total aid it may receive under section 
 477A.013, subdivision 9, paragraph (b) or (c), is increased by 
 the same amount for aid payable in 2004. 

    Subd. 4.    Appropriation increase.  For aid payable in 
 2003, the total aid amount payable to cities under section 
 477A.03, subdivision 2, paragraph (d), is permanently increased 
 by the total amount payable to all cities under subdivision 3 
 for aid payable in 2003.  For aid payable in 2004, the total aid 
 amount payable to cities under section 477A.03, subdivision 2, 
 paragraph (d), is permanently increased by the total amount 
 payable to all cities under subdivision 3 for aid payable in 
 2004. 

    HIST: 1Sp2001 c 5 art 3 s 79; 2002 c 377 art 6 s 12; art 10 s 
 28,29