HF 1385

as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to property taxation; the metropolitan fiscal 
  1.3             disparities program; providing a fiscal disparities 
  1.4             adjustment for operating subsidies of light rail 
  1.5             transit systems; amending Minnesota Statutes 2002, 
  1.6             section 473F.08, by adding a subdivision. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 2002, section 473F.08, is 
  1.9   amended by adding a subdivision to read: 
  1.10     Subd. 3c.  [LIGHT RAIL TRANSIT OPERATING SUBSIDIES.] (a) 
  1.11  Any city or county that provides an operating subsidy to a light 
  1.12  rail transit system is eligible for a reduction in its 
  1.13  contribution to the areawide net tax capacity under subdivision 
  1.14  2, paragraph (a).  By July 15, 2004, and each subsequent year, 
  1.15  the city or county shall notify its county auditor, as well as 
  1.16  the administrative auditor, of the amount of subsidy paid during 
  1.17  the 12-month period ending on June 30 of the current year. 
  1.18     (b) In the case of a city, the county auditor shall 
  1.19  calculate a reduction in the city's contribution determined 
  1.20  under subdivision 2, paragraph (a), for taxes payable in the 
  1.21  subsequent year equal to the reported subsidy amount divided by 
  1.22  the city's average city tax rate for taxes payable in the 
  1.23  current year. 
  1.24     (c) In the case of a county, the county auditor shall 
  1.25  calculate a reduction in the county's contribution to the 
  1.26  areawide net tax capacity for taxes payable in the subsequent 
  2.1   year.  The overall county reduction is equal to the reported 
  2.2   subsidy amount divided by the county's average county tax rate 
  2.3   for taxes payable in the current year.  The county's overall 
  2.4   reduction must be achieved by reducing the contribution tax 
  2.5   capacity of each municipality within the county under 
  2.6   subdivision 2, paragraph (a), in proportion to the 
  2.7   municipality's share of the contribution of all municipalities 
  2.8   within the county under subdivision 2, paragraph (a). 
  2.9      [EFFECTIVE DATE.] This section is effective for fiscal 
  2.10  disparities contribution and distribution tax capacities for 
  2.11  taxes payable in 2005 and subsequent years.