as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am
Engrossments | ||
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Introduction | Posted on 02/26/2007 |
A bill for an act
relating to taxation; authorizing Dakota County to impose a county mortgage
registry and deed tax; providing for use of the proceeds; proposing coding for
new law in Minnesota Statutes, chapter 383D.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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(a) The governing body of Dakota
County may impose a mortgage registry and deed tax.
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(b) The rate of the mortgage registry tax equals .0001 of the principal.
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(c) The rate of the deed tax equals .0001 of the amount.
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The taxes under this section apply to
the same base and must be imposed, collected, administered, and enforced in the same
manner as provided under chapter 287 for the state mortgage registry and deed taxes.
All the provisions of chapter 287 apply to these taxes, except the rate is as specified in
subdivision 1, the term "Dakota County" must be substituted for "the state," and the
revenue must be deposited as provided in subdivision 3.
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All revenues from the tax are for the use of
the Dakota County Board of Commissioners and must be deposited in the county's
environmental response fund under section
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An environmental response fund is created for the purposes
specified in this section. The taxes imposed by section 383D.75 must be deposited in the
fund. The Board of County Commissioners shall administer the fund either as a county
board, a housing and redevelopment authority, or a regional rail authority.
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The fund created in subdivision 1 must be used for the
following purposes:
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(1) acquisition through purchase or condemnation of lands or property which are
polluted or contaminated with hazardous substances;
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(2) paying the costs associated with indemnifying or holding harmless the
entity taking title to lands or property from any liability arising out of the ownership,
remediation, or use of the land or property;
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(3) paying for the costs of remediating the acquired land or property;
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(4) paying the costs associated with remediating lands or property which are polluted
or contaminated with hazardous substances; or
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(5) paying for the costs associated with improving the property for economic
development, recreational, housing, transportation or rail traffic.
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In expending funds under this section, the county shall
seek matching funds from contamination cleanup funds administered by the commissioner
of the Department of Employment and Economic Development, the Metropolitan Council,
the federal government, the private sector, and any other source.
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The county may pledge the proceeds from the taxes imposed by
section to bonds issued under this chapter and chapters 398A, 462, 469, and 475.
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Land or property acquired under this section may be resold
at fair market value. Proceeds from the sale of the land must be deposited in the
environmental response fund.
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