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HF 308

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf

Bill Text Versions

Engrossments
Introduction Posted on 01/19/2005

Current Version - as introduced

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A bill for an act
 relating to taxation; authorizing the Lakes Area
Economic Development Authority to levy a tax; amending
Laws 2003, chapter 127, article 12, section 38.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Laws 2003, chapter 127, article 12, section 38,
is amended to read:


Sec. 38deleted text begin MEMBERS MUST deleted text end new text begin AUTHORITY TO new text end LEVY TAXES deleted text begin FOR
AUTHORITYdeleted text end .

deleted text begin (a) A member shall, at the request of the authority, levy a
tax in any year for the benefit of the authority.deleted text end new text begin The authority
is a special taxing district as defined in Minnesota Statutes,
section 275.066, clause (13), with the power to adopt and
certify a property tax levy to the county auditor. The
authority may levy a tax in any year for the benefit of the
authority.new text end The tax deleted text begin is,deleted text end for each memberdeleted text begin ,deleted text end new text begin is new text end a pro rata portion
of the total amount of tax requested by the authority based on
the taxable market value within deleted text begin a deleted text end new text begin the new text end member's jurisdiction, but
in no event may the tax in any year exceed 0.01813 percent of
taxable market value. For purposes of this section, "taxable
market value" has the meaning as given in Minnesota Statutes,
section 273.032.

deleted text begin (b) The treasurer of each member city or town shall, within
15 days after receiving the property tax settlements from the
county treasurer, pay to the treasurer of the authority the
amount collected for this purpose. The money must be used by
the authority for the purposes provided by sections 35 to 41.
 deleted text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxes
levied in 2005, payable in 2006, and thereafter.
 new text end