hf2540THIRD ENGROSSMENTOmnibus tax bill.ARTICLE 1�INCOME, FRANCHISE, AND OCCUPATION TAXESSection 1: Income tax return filing requirements clarified.Sec. 2: Definition of tax refund or return preparer clarified.Sec. 3: Definition of resident modified.Sec. 4: Federal taxable income subtractions expanded.Sec. 5: Federal taxable income corporate additions provided.Sec. 6: Corporate modifications decreasing federal taxable income +provided.Sec. 7: Maximum allowable credits for certain claimants modified.Sec. 8: Definitions of tax-exempt use property and taxpayer provided.Sec. 9: Definition of alternative minimum taxable income modified.Sec. 10: Exemption amount for alternative minimum tax modified.Sec. 11: Commissioner authority relating to foreign operating +corporations provided.Sec. 12: Apportionment formula modified.Sec. 13: Apportionment formula for financial institutions modified.Sec. 14: Sales factor determination procedure modified.Sec. 15: Receipts factor for financial institutions determination +procedures modified.Sec. 16: Tax exempt property excluded from property factor.Sec. 17: Financial institutions property factor tax exempt property +excluded.Sec. 18: Withholding by partnerships regulations modified.Sec. 19: Occupation tax relating to mining or producing ores +modified.Sec. 20: Iron ore and taconite concentrates occupation tax modified.Sec. 21: Refund payments authorization provided.ARTICLE 2�FEDERAL UPDATESection 1: Definition of Internal Revenue Code modified.Sec. 2: Definition of net income modified.Sec. 3: Federal taxable income additions modified.Sec. 4: Federal taxable income subtractions modified.Sec. 5: Corporate federal taxable income additions modified.Sec. 6: Internal revenue code definition conforming changes provided.Sec. 7: Schedules of rates for individuals, estates, and trusts +modified.Sec. 8: Definition of alternative minimum taxable income modified.Sec. 9: Conforming changes with section 8.Sec. 10: Internal revenue code definition modification effective +date provided.Sec. 11: Conforming changes with section 9.ARTICLE 3�PROPERTY TAXESSection 1: Applicability amount technical changes provided.Sec. 2: Reporting dates modified.Sec. 3: Wind energy conversion systems land value procedures +established.Sec. 4: Poultry litter biomass generation facility construction date+ modified.Sec. 5: Electric generation facility regulations modified.Sec. 6: Personal property part of an electric generation facility +property tax exemption provided.Sec. 7: Conforming changes with section 6.Sec. 8: Electric generation facility personal property exemption +provided.Sec. 9: Biomass electric generation facility exemption provided.Sec. 10: Conforming changes.Sec. 11: Homestead of disabled veteran or surviving spouse +exemptions provided.Sec. 12: Exemption effective date provided.Sec. 13: Exemption limits modified.Sec. 14: New and existing power generation facility exemptions +provided.Sec. 15: Date modified.Sec. 16: Revenue distribution language modified.Sec. 17: Limited market value relating to class 1c resort property +modified.Sec. 18: Class 1c resort property tax regulations modified.Sec. 19: Agricultural use date added.Sec. 20: Residential property used to provide day care property tax classification regulated.Sec. 21: Class 1 property tax regulations modified.Sec. 22: Vacant commercial industrial property tax regulations +provided.Sec. 23: Residential homestead market value credit modified.Sec. 24: Proof of compliance and transfer of duties modified.Sec. 25: Notice of proposed property taxes modified.Sec. 26: Tax statement contents modified.Sec. 27: Property taxes payable definition provided.Sec. 28: Early payment and E-file claim regulations provided.Sec. 29: Total revenue definition provided.Sec. 30: Tax limit regulations modified.Sec. 31: Definition of other natural resources land modified.Sec. 32: Definition of land utilization project land provided.Sec. 33: Types of land payments modified.Sec. 34: Land utilization project land added to payment regulations.Sec. 35: General distribution regulations modified.Sec. 36: Special assessment deferral authorization modified.Sec. 37: Recapture regulations clarified.Sec. 38: Township levy adjustment for wind energy production tax provided.Sec. 39: Sauk river watershed district levy authorized.Sec. 40: Prinsburg special levy authority provided.Sec. 41: Study of property tax as a percentage of rent required.ARTICLE 4�SALES AND USE AND LODGING TAXESSection 1: Contracts with foreign vendors provided.Sec. 2: Definition of retail sale modified.Sec. 3: Motor vehicle lease price tax detailed.Sec. 4: Definition of personal rapid transit system provided.Sec. 5: Motor vehicle lease taxation procedures provided.Sec. 6: Cigarette tax exemption provided.Sec. 7: Industrial production consumed materials taxes modified.Sec. 8: Capital equipment tax exemption modified.Sec. 9: Personal rapid transit system exemption provided.Sec. 10: Public safety radio communications system exemption +modified.Sec. 11: Donated meal exemption provided.Sec. 12: Personal rapid transit system exemption provided.Sec. 13: Seller's permit regulations modified.Sec. 14: Occasional sale provision applicability modified.Sec. 15: Revenue usage regulations modified.Sec. 16: Effective date modified.ARTICLE 5�SPECIAL TAXESSection 1: Tax authority modified.Sec. 2: Definition of out of state retailer provided.Sec. 3: Registration requirement regarding tobacco products +established.Sec. 4: Reporting requirements provided.Sec. 5: Cigarette wholesale tax imposed.Sec. 6: Definition of direct business provided.Sec. 7: Mutual property and casualty companies regulations modified.Sec. 8: Life insurance tax imposed.Sec. 9: Definition of operator modified.Sec. 10: Tobacco product delivery sales requirements provided.Sec. 11: Floor stocks tax imposed on cigarettes.ARTICLE 6�TAX INCREMENT FINANCINGSection 1: Local match requirement modified.Sec. 2: Definition of housing district modified.Sec. 3: Definition of increment modified.Sec. 4: Filing plan with state modified.Sec. 5: Statutory reference added to housing district regulations.Sec. 6: Tax increment requirement impositions modified.Sec. 7: Rental property income requirement regulations modified.Sec. 8: Net tax capacity technical references added.Sec. 9: Payment disposition modified.Sec. 10: Technical reference added.Sec. 11: Special rules modified.Sec. 13: Expiration modified.Sec. 14: Robbinsdale TIF regulations provided.Sec. 15: Wabasha tax increment financing district regulations +provided.Sec. 16: Repealer.ARTICLE 7�INTERNATIONAL ECONOMIC DEVELOPMENT ZONESSection 1: International economic development zone property +regulations established.Sec. 2: Job credit provided.Sec. 3: Qualified business regulations provided.Sec. 4: Tangible personal property purchase exemptions provided.Sec. 5: Definitions of related terms provided.Sec. 6: Designation of IED zone procedure provided.Sec. 7: Foreign trade zone authority powers provided.Sec. 8: IED zone tax incentives established.Sec. 9: Jobs credit detailed.Sec. 10: Tax benefit repayment procedures established.Sec. 11: Reporting requirements provided.ARTICLE 8�DEPARTMENT OF REVENUE POLICY PROVISIONSSection 1: Case reviewer authority provided.Sec. 2: Authority delegations specified.Sec. 3: Powers and duties of commissioner of revenue modified.Sec. 4: Sufficiency of notice of determination or action of +commissioner of revenue provided.Sec. 5: Period of limitations modified.Sec. 6: Technical statutory reference added.Sec. 7: Class 1B homestead regulations clarified.Sec. 8: Biotechnology and health sciences industry zone property +date provided.Sec. 9: Partnership, fiduciary, and S corporation reporting +requirements modified.Sec. 10: Joint income tax return request for calculation of separate+ liability regulated.Sec. 11: Biotechnology and border city zone refunds provided.Sec. 12: Statutory reference added.Sec. 13: Payment withholding regulations modified.Sec. 14: Withdrawal procedures modified.Sec. 15: Agreement requirements relating to monetary allowances +clarified.Sec. 16: Sales tax exemption for construction materials and +equipment modified.Sec. 17: Definition of qualified business modified.Sec. 18: Conforming change to section 17.Sec. 19: Corporate franchise tax exemption modified.Sec. 20: Definition of area modified.Sec. 21: Repealer.ARTICLE 9�MISCELLANEOUSSection 1: Additional revenues priority regulations expanded.Sec. 2: Vehicle registration without title prohibition clarified.Sec. 3: Transfer requirements relating to vehicle dealers modified.Sec. 4: Vehicle held for resale notification required.Sec. 5: Centralized record keeping required for vehicle dealers.Sec. 6: Franchise fee required for operators of card clubs.Sec. 7: Tax preparation service legislation scope modified.Sec. 8: Itemized bill requirements clarified.Sec. 9: Enforcement provisions exemptions for tax preparers +clarified.Sec. 10: State death taxes not allowed in computing certain taxes.Sec. 11: Definition of commercial production provided.Sec. 12: Tax credit maximum for 2004 doubled.Sec. 13: Task force for electronic filing of real estate documents +modified.Sec. 14: Recommendations modified.Sec. 15: Date modified.Sec. 16: Date modified.Sec. 17: Real estate filing surcharge dates modified.Sec. 18: Task force transition provided.Sec. 19: Gaming machine in-lieu tax contracts required.Sec. 20: Funds transfer provided.Sec. 21: Federal fund regulations provided.Sec. 22: Appropriations for tax compliance initiative, property tax +refund study, and income and home value dataset provided.Sec. 23: Effective date. ARTICLE 10�PROPERTY TAXES TECHNICALSection 1: State demographer duties modified.Sec. 2: Manufactured home treated as levied on January 1 of payable +year.Sec. 3: Homestead determination procedures modified.Sec. 4: Property relating to agriculture or cooperative farming +regulations provided.Sec. 5: Exemption limitations modified.Sec. 6: Public charity tax exemptions modified.Sec. 7: Taconite production tax regulations provided.Sec. 8: Religious corporation tax regulations provided.Sec. 9: Children's home tax regulations provided.Sec. 10: Housing and redevelopment authority tax regulations +provided.Sec. 11: Language clarifications.Sec. 12: Technical references added.Sec. 13: Definition of meeting days provided.Sec. 14: Date modified.Sec. 15: Levy certification modified.Sec. 16: Commissioner report modified.Sec. 17: Techical.Sec. 18: Prohibited purchasers list modified.Sec. 19-21: Statutory references addedSec. 22: Population estimates required.Sec. 23: Definition of population modified.Sec. 24: City aid base regulations modified.Sec. 25: County appropriations provided and statutory reference +added.Sec. 26: 2004 city aid reductions modified.Sec. 27: Related term definition modified.Sec. 28: Repealer.ARTICLE 11�SALES AND USE TAXES TECHNICALSection 1: Language updated.Sec. 2: Effective date modified.Sec. 3: Applicability modified.Sec. 4: Tangible personal property lease or rent regulations +modified.Sec. 5: Transportation equipment sourcing procedures modified.Sec. 6: Effective date added.Sec. 7: Consumed materials regulations provided.Sec. 8: Definition of capital equipment modified.Sec. 9: Preexisting bid regulations modified.Sec. 10: Repealer.ARTICLE 12�SPECIAL TAXES TECHNICALSection 1: Exemption for mortgage on a certain armory building +provided.Sec. 2: Definition of health care provider modified.Sec. 3: Penalty abatement provided.Sec. 4: Distributor definition modified.Sec. 5: Gambling product definition modified.Sec. 6: Definition of linked bingo game provided.Sec. 7: Definition of linked bingo game provider provided.Sec. 8: Inspection rights modified.Sec. 9: Interstate commerce relating to cigarettes regulations +modified.Sec. 10-11: Cigarette distributor monthly return requirements +modified.Sec. 12: Definition of reinsurance provided.Sec. 13: Language updated.Sec. 14: HMO regulations modified.Sec. 15: Repealer. ARTICLE 13�MISCELLANEOUS TECHNICALSection 1: Statutory reference added.Sec. 2: Estate tax return reference added.Sec. 3: Notice sufficiency provided.Sec. 4: Failure to file penalty modified.Sec. 5-9: Language updated, technical changes, and statutory +references added.Sec. 10: Covenant length regulations established.Sec. 11: Violation provisions modified.Sec. 12: Penalties modified.Sec. 13: Repealer. ARTICLE 14�BLUE WATERSSection 1: Class 2 property definition expanded and detailed.AE