1.1 	A bill for an act
1.2 	relating to revenue; baseball stadium; modifying permitted use of revenues 
1.3 	for other purposes; amending Minnesota Statutes 2010, section 473.757, 
1.4 	subdivisions 2, 11.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2010, section 473.757, subdivision 2, is amended to read:
1.7 		Subd. 2.Youth sports; library. To the extent funds are available from collections 
1.8 	of the tax authorized by subdivision 10 after payment each year of debt service on the 
1.9 	bonds authorized and issued under subdivision 9 and payments for the purposes described 
1.10 	in subdivision 1, the county may also authorize, by resolution, and expend or make 
1.11 	grants to the authority and to other governmental units and nonprofit organizations in an 
1.12 	aggregate amount of up to $4,000,000 annually, increased by up to 1.5 percent annually
1.13 	to fund equally: (1) youth activities and youth and amateur sports within Hennepin 
1.14 	County; and (2) the cost of extending the hours of operation of Hennepin County libraries 
1.15 	and Minneapolis public libraries.
1.16 	The money provided under this subdivision is intended to supplement and not 
1.17 	supplant county expenditures for these purposes as of May 27, 2006.
1.18 	Hennepin County must provide reports to the chairs of the committees and budget 
1.19 	divisions in the senate and the house of representatives that have jurisdiction over 
1.20 	education policy and funding, describing the uses of the money provided under this 
1.21 	subdivision. The first report must be made by January 15, 2009, and subsequent reports 
1.22 	must be made on January 15 of each subsequent odd-numbered year.

1.23 	EFFECTIVE DATE. This section is effective the day following final enactment.

2.1 	Sec. 2. Minnesota Statutes 2010, section 473.757, subdivision 11, is amended to read:
2.2 		Subd. 11.Uses of tax. (a) Revenues received from the tax imposed under 
2.3 	subdivision 10 may be used:
2.4 	(1) to pay costs of collection;
2.5 	(2) to pay or reimburse or secure the payment of any principal of, premium, or 
2.6 	interest on bonds issued in accordance with this act;
2.7 	(3) to pay costs and make expenditures and grants described in this section, including 
2.8 	financing costs related to them;
2.9 	(4) to maintain reserves for the foregoing purposes deemed reasonable and 
2.10 	appropriate by the county;
2.11 	(5) to pay for operating costs of the ballpark authority other than the cost of 
2.12 	operating or maintaining the ballpark; and
2.13 	(6) to make expenditures and grants for youth activities and amateur sports and 
2.14 	extension of library hours as described in subdivision 2;
2.15 	and for no other purpose.
2.16 	(b) Revenues from the tax designated for use under paragraph (a), clause (5), must 
2.17 	be deposited in the operating fund of the ballpark authority.
2.18 	(c) After completion of the ballpark and public infrastructure, the tax revenues not 
2.19 	required for current payments of the expenditures described in paragraph (a), clauses (1) to 
2.20 	(6), shall be used to (i) redeem or defease the bonds and (ii) prepay or establish a fund for 
2.21 	payment of future obligations under grants or other commitments for future expenditures 
2.22 	which are permitted by this section paragraph (a), clauses (1) to (5), but no additional tax 
2.23 	revenues may be deposited in the fund when its balance exceeds $20,000,000. Upon the 
2.24 	redemption or defeasance of the bonds and the establishment of reserves adequate to meet 
2.25 	such future obligations, the taxes shall terminate and shall not be reimposed.

2.26 	EFFECTIVE DATE. This section is effective the day following final enactment.