Legislative Session number- 81

Bill Name: SF3380

Relating to tax reliefARTICLE 1 SALES TAX REBATEProviding for a sales tax rebate
payable in 2000 using information contained in the Minnesota tax incidence
report; specifying taxpayer eligibility and prescribing the schedules for
taxpayers filing jointly or separately, providing eligibility for certain
additional state residents and nonresidents and defining income; requiring
certain commissioner of revenue rebate adjustments, requiring reduction under
certain conditions; requiring rebates not made by a certain date to bear
interest; providing for receipt of rebates by estates of deceased individuals
after closing of the probate estates; including the rebate under the definition
of Minnesota tax law for data disclosure purposes and in the definition of
overpayment for delinquent tax liability purposes; taxpayer right to the rebate
to expire after a certain date; subjecting the rebate to revenue recapture;
granting the commissioner certain enforcement authority relating to forged or
improperly endorsed checks and for overstated or erroneously issued rebates;
authorizing the commissioner to take whatever action necessary to pay the
rebates; authorizing payment by electronic funds transfer to certain
individuals; appropriating money to the commissioner to pay for rebates
administration purposes ARTICLE 2 INDIVIDUAL INCOME TAXESProviding an income tax
subtraction for a certain percentage of long term capital gains; reducing
individual income tax rates and adjusting the brackets, providing for inflation
adjustments; reducing the alternative minimum tax (AMT) rate; repealing the
marriage penalty credit ARTICLE 3 - CORPORATE FRANCHISE TAX Adopting a single
factor sales apportionment formula for franchise tax purposesARTICLE 4 SALES AND
USE TAXESEliminating the accelerated June payment liability of retailers for
sales, liquor and tobacco taxes and the sales tax payment and refund
requirements for sales of exempt capital equipment; exempting from the tax milk,
milk products, juice and juice products, fresh and canned fruit, vegetables,
granola and fruit filled breakfast bars, yogurt and pudding and cheese and
cottage cheese sold from vending machines; expanding the definition of farm
machinery for sales tax purposes to include machinery used to produce flowering
or ornamental plants including nursery stock ARTICLE 5 PROPERTY TAXESReducing
the property tax classification rates for certain commercial industrial and
apartment property; modifying the education homestead creditARTICLE 6 MINNESOTA
COMPREHENSIVE HEALTH ASSOCIATIONProviding an annual appropriation to the
commissioner of commerce to pay a certain percentage of certain excess claims
and operating and administrative expenses of the Minnesota comprehensive health
association (MCHA) incurred after a certain date; requiring contributing members
to adjust premium rates to reflect the funding, providing for enforcement by the
commissioners of commerce or health (ra)