HF 1513

as introduced - 89th Legislature (2015 - 2016) Posted on 03/05/2015 02:13pm

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:

Section 1.

Minnesota Statutes 2014, section 298.28, is amended by adding a
subdivision to read:

new text begin Subd. 9e. new text end

new text begin Assigned risk plan. new text end

new text begin (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.
new text end

new text begin (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.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for concentrate produced in 2015
and thereafter.
new text end