HF 991

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

A bill for an act
relating to taxes; providing a credit for a taxpayer
that installs equipment to dispense E85 motor vehicle
fuel at retail; appropriating money; amending
Minnesota Statutes 2004, section 290.06, by adding a
subdivision.

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

Section 1.

Minnesota Statutes 2004, section 290.06, is
amended by adding a subdivision to read:

new text begin Subd. 32. new text end

new text begin Credit for installation of e85 fuel dispensing
equipment. new text end

new text begin (a) A taxpayer that is a dealer as defined in
section 296A.01, subdivision 13, may take a onetime credit under
this chapter in the amount of $20,000 for the installation of
equipment to dispense E85 fuel, as defined in section 296A.01,
subdivision 19, at retail in the state. If the amount of credit
that a taxpayer is eligible to receive under this subdivision
exceeds the taxpayer's tax liability under chapter 290, the
excess amount of the credit shall be refunded to the claimant by
the commissioner.
new text end

new text begin (b) If the taxpayer is not required and does not file an
income tax return, the credit provided under paragraph (a) may
be claimed as a cash refund on forms provided by the
commissioner.
new text end

new text begin (c) The amount necessary to pay the refunds under this
section is annually appropriated from the general fund to the
commissioner of revenue.
new text end

Sec. 2. new text begin EFFECTIVE DATE.
new text end

new text begin Section 1 is effective for E85 fuel dispensing equipment
installed after January 1, 2005.
new text end