as introduced - 89th Legislature (2015 - 2016) Posted on 03/05/2015 02:13pm
Engrossments | ||
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Introduction | Posted on 03/05/2015 |
A bill for an act
relating to taxation; minerals; taconite production tax distributions; amending
Minnesota Statutes 2014, section 298.28, by adding a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2014, section 298.28, is amended by adding a
subdivision to read:
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(a) Five cents per taxable ton is allocated to the
assigned risk plan created under section 79.252 until the total accumulated allocation
equals $4,900,000. When the total accumulated allocation equals $4,900,000, the
allocation under this subdivision must no longer be made.
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(b) The allocation under this subdivision is made only if the commissioner
determines that total taxable tons of taconite for a production year exceeds $35,000,000.
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This section is effective for concentrate produced in 2015
and thereafter.
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