HF 1427

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:50am

A bill for an act
relating to taxation; increasing border city enterprise allocations; amending
Minnesota Statutes 2008, section 469.169, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2008, section 469.169, is amended by adding a
subdivision to read:

new text begin Subd. 19. new text end

new text begin Additional border city allocations; 2009. new text end

new text begin (a) In addition to tax
reductions authorized in subdivisions 7 to 18, the commissioner shall allocate $750,000
for tax reductions to border city enterprise zones in cities located on the western border
of the state. The commissioner shall make allocations to zones in cities on the western
border on a per capita basis. Allocations made under this subdivision may be used for
tax reductions as provided in section 469.171 or for other offsets of taxes imposed on
or remitted by businesses located in the enterprise zone, but only if the municipality
determines that the granting of the tax reduction or offset is necessary in order to retain a
business within or attract a business to the zone. The city alternatively may elect to use
any portion of the allocation provided in this paragraph for tax reductions under section
469.1732 or 469.1734.
new text end

new text begin (b) The commissioner shall allocate $750,000 for tax reductions under section
469.1732 or 469.1734 to cities with border city enterprise zones located on the western
border of the state. The commissioner shall allocate this amount among the cities on a per
capita basis. The city alternatively may elect to use any portion of the allocation provided
in this paragraph for tax reductions as provided in section 469.171.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end