as introduced - 89th Legislature (2015 - 2016) Posted on 03/16/2015 04:34pm
Engrossments | ||
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Introduction | Posted on 03/12/2015 |
A bill for an act
relating to taxation; Iron Range Resources and Rehabilitation; prohibiting the
commissioner and board from providing loans or grants to entities engaged in
political activities; amending Minnesota Statutes 2014, section 298.22, by adding
a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2014, section 298.22, is amended by adding a
subdivision to read:
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(a) The board or commissioner may
not make or approve a loan or grant to any entity that derives at least 30 percent of its
annual gross revenues from political activity in any of the five calendar years immediately
preceding the calendar year in which the loan or grant is to be made.
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(b) An entity, as a condition to receiving a grant or loan made or approved by the
board or commissioner, must certify in writing that the loan or grant is not prohibited under
paragraph (a). The certification must be part of the grant or loan application process. The
entity must provide any additional documentation to the board or commissioner that the
board or commissioner considers necessary to determine compliance with paragraph (a).
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(c) For purposes of this subdivision, "political activity" means an effort to support or
oppose the nomination or election of a candidate for political office or to support a particular
political party in an election, including the publication or distribution of statements.
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This section is effective the day following final enactment.
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