as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am
Engrossments | ||
---|---|---|
Introduction | Posted on 04/08/1997 |
1.1 A bill for an act 1.2 relating to taxation; sales; exempting sales of 1.3 lottery tickets from sales tax; amending Minnesota 1.4 Statutes 1996, sections 297A.259; 349A.01, subdivision 1.5 7; and 349A.10, subdivision 7. 1.6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.7 Section 1. Minnesota Statutes 1996, section 297A.259, is 1.8 amended to read: 1.9 297A.259 [LOTTERY TICKETS;IN LIEU TAXEXEMPTION.] 1.10 Sales of state lottery tickets are exempt from the tax 1.11 imposed under section 297A.02.The state lottery must on or1.12before the 20th day of each month transmit to the commissioner1.13of revenue an amount equal to the gross receipts from the sale1.14of lottery tickets for the previous month multiplied by the1.15combined tax rate under sections 297A.02, subdivision 1, and1.16297A.021, subdivision 1. The resulting payment is in lieu of1.17the sales tax that otherwise would be imposed by this chapter.1.18The commissioner shall deposit the money transmitted as provided1.19by section 297A.44 and the money must be treated as other1.20proceeds of the sales tax. Gross receipts for purposes of this1.21section mean the proceeds of the sale of tickets before1.22deduction of a commission or other compensation paid to the1.23vendor or retailer for selling tickets.1.24 Sec. 2. Minnesota Statutes 1996, section 349A.01, 1.25 subdivision 7, is amended to read: 2.1 Subd. 7. [GROSS RECEIPTS.] "Gross receipts" means all 2.2 money received from the sale of lottery ticketsless amounts2.3transmitted to the commissioner of revenue under section2.4297A.259. 2.5 Sec. 3. Minnesota Statutes 1996, section 349A.10, 2.6 subdivision 7, is amended to read: 2.7 Subd. 7. [TRANSFER OF CASH BALANCES.] (a) A lottery cash 2.8 flow account is created in the special revenue fund in the state 2.9 treasury. At the end of each week the director shall deposit in 2.10 the lottery cash flow account from the lottery fund and the 2.11 lottery prize fund all amounts that the director determines are 2.12 not required for immediate use in the lottery fund or the 2.13 lottery prize fund. The commissioner of finance shall credit to 2.14 the lottery cash flow account interest on all money deposited in 2.15 the lottery cash flow account under this subdivision. 2.16 (b) The director shall notify the commissioner of finance 2.17 whenever the director determines that money transferred under 2.18 paragraph (a) is required for the immediate use of the lottery 2.19 fund or the lottery prize fund. Upon receiving the notification 2.20 the commissioner shall transfer the amount identified in the 2.21 notification. Amounts necessary to make immediate payment for 2.22 expenses or prizes from the lottery fund or the prize fund are 2.23 appropriated from the lottery cash flow account to the director. 2.24 (c) The director shall notify the commissioner of finance 2.25 30 days after each month as to the amount of the net proceeds 2.26 that must be transferred under subdivision 5,and the director2.27shall notify the commissioner of finance 20 days after each2.28month as to the amount that must be transferred under section2.29297A.259,and as necessary the director shall notify the 2.30 commissioner of other amounts required by law to be transferred. 2.31 Sec. 4. [EFFECTIVE DATE.] 2.32 Sections 1 to 3 are effective July 1, 1997.