HF 1805

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; changing existing property tax 
  1.3             exemptions for housing for technical college students; 
  1.4             amending Laws 1992, chapter 511, article 2, sections 
  1.5             45, subdivision 7, and by adding a subdivision; and 
  1.6             46, subdivision 7, and by adding a subdivision. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Laws 1992, chapter 511, article 2, section 45, 
  1.9   is amended by adding a subdivision to read: 
  1.10     Subd. 6a.  [HOUSING REDEVELOPMENT AUTHORITY; EXCEPTIONS.] 
  1.11  The requirements of subdivisions 2, 3, 4, and 5 do not apply in 
  1.12  order to qualify for the exemption if the student housing is 
  1.13  owned by the local housing and redevelopment authority, the 
  1.14  reduced cost of development due to the exemption is reflected in 
  1.15  lower rents, and a reasonable system is used to provide priority 
  1.16  to students in renting the dwelling units. 
  1.17     Sec. 2.  Laws 1992, chapter 511, article 2, section 45, 
  1.18  subdivision 7, is amended to read: 
  1.19     Subd. 7.  [EXPIRATION.] This section applies to student 
  1.20  housing approved by the state board before January 1, 1997.  The 
  1.21  property tax exemption for a student housing development is 
  1.22  limited to 20 years from the date of first occupancy.  This 
  1.23  section expires January 1, 2018. 
  1.24     Sec. 3.  Laws 1992, chapter 511, article 2, section 46, is 
  1.25  amended by adding a subdivision to read: 
  1.26     Subd. 6a.  [HOUSING REDEVELOPMENT AUTHORITY; EXCEPTIONS.] 
  2.1   The requirements of subdivisions 2, 3, 4, and 5 do not apply in 
  2.2   order to qualify for the exemption if the student housing is 
  2.3   owned by the local housing and redevelopment authority or by a 
  2.4   multicounty housing and redevelopment authority on land leased 
  2.5   from a city or school district, the reduced cost of development 
  2.6   due to the exemption is reflected in lower rents, and a 
  2.7   reasonable system is used to provide priority to students in 
  2.8   renting the dwelling units. 
  2.9      Sec. 4.  Laws 1992, chapter 511, article 2, section 46, 
  2.10  subdivision 7, is amended to read: 
  2.11     Subd. 7.  [EXPIRATION.] This section applies to student 
  2.12  housing approved by the state board before January 1, 1997.  The 
  2.13  property tax exemption for a student housing development is 
  2.14  limited to 20 years from the date of first occupancy.  This 
  2.15  section expires January 1, 2018. 
  2.16     Sec. 5.  [EFFECTIVE DATES.] 
  2.17     Sections 1 and 2 are effective the day after the governing 
  2.18  body of Duluth complies with Minnesota Statutes, section 
  2.19  645.021, subdivision 3. 
  2.20     Sections 3 and 4 are effective the day after the governing 
  2.21  body of Thief River Falls complies with Minnesota Statutes, 
  2.22  section 645.021, subdivision 3.