SF 2327 Senate Long Description
Relating to the taconite production tax; modifying the definition of tax relief area for certain loan or equity investment equal match, taconite tax and property tax relief purposes; modifying the supplementary homestead property tax relief formula for and specifying an iron range resources and rehabilitation board spending priority for programs and projects targeting relief to portions of the redefined area with the largest percentage of job and population losses directly attributable to the economic downturn in the taconite industry; modifying the distribution of taconite production tax proceeds to certain cities and towns; increasing the taconite production tax rate; appropriating money to the commissioner of children, families and learning for certain distributions to school districts; reducing the amount of tax allocated to St. Louis county for distribution for property tax relief; maintaining the amount to be paid to the northeast Minnesota economic protection trust and taconite economic development funds and increasing the amount to be paid to the taconite environmental fund; clarifying a certain provision providing for distribution of the remainder of the tax proceeds; providing for the deposit of certain delayed payments in the general fund; providing for state aid to cities, counties, townships, school districts, the taconite property tax relief fund, the IRRRB, the range association of municipalities and schools and the taconite economic development, environmental, environmental protection and northeast Minnesota economic protection trust funds, requiring commissioner of revenue distribution by a certain date (ra)