HF 2265

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to property taxes; eliminating Bloomington's 
  1.3             obligation to repay its obligation to the fiscal 
  1.4             disparities areawide tax base under certain 
  1.5             conditions; authorizing a study; amending Minnesota 
  1.6             Statutes 1998, section 473F.08, subdivision 3a. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  Minnesota Statutes 1998, section 473F.08, 
  1.9   subdivision 3a, is amended to read: 
  1.10     Subd. 3a.  [BLOOMINGTON COMPUTATION.] Beginning in 1987 and 
  1.11  each subsequent year through 1998, the city of Bloomington shall 
  1.12  determine the interest payments for that year for the bonds 
  1.13  which have been sold for the highway improvements pursuant to 
  1.14  Laws 1986, chapter 391, section 2, paragraph (g).  Effective for 
  1.15  property taxes payable in 1988 through property taxes payable in 
  1.16  1999, after the Hennepin county auditor has computed the 
  1.17  areawide portion of the levy for the city of Bloomington 
  1.18  pursuant to subdivision 3, clause (a), the auditor shall 
  1.19  annually add a dollar amount to the city of Bloomington's 
  1.20  areawide portion of the levy equal to the amount which has been 
  1.21  certified to the auditor by the city of Bloomington for the 
  1.22  interest payments for that year for the bonds which were sold 
  1.23  for highway improvements.  The total areawide portion of the 
  1.24  levy for the city of Bloomington including the additional amount 
  1.25  for interest repayment certified pursuant to this subdivision 
  1.26  shall be certified by the Hennepin county auditor to the 
  2.1   administrative auditor pursuant to subdivision 5.  The Hennepin 
  2.2   county auditor shall distribute to the city of Bloomington the 
  2.3   additional areawide portion of the levy computed pursuant to 
  2.4   this subdivision at the same time that payments are made to the 
  2.5   other counties pursuant to subdivision 7a.  Unless a 
  2.6   certification is made pursuant to section 3, for property taxes 
  2.7   payable from the year 2006 through 2015, the Hennepin county 
  2.8   auditor shall adjust Bloomington's contribution to the areawide 
  2.9   gross tax capacity upward each year by a value equal to ten 
  2.10  percent of the total additional areawide levy distributed to 
  2.11  Bloomington under this subdivision from 1988 to 1999, divided by 
  2.12  the areawide tax rate for taxes payable in the previous year. 
  2.13     Sec. 2.  [STUDY AUTHORIZED.] 
  2.14     The commissioner of trade and economic development shall 
  2.15  undertake a study of business activity related to the retail 
  2.16  shopping facility in the city of Bloomington known as the Mall 
  2.17  of America.  The study shall attempt to determine the net tax 
  2.18  revenues that have already accrued to the state of Minnesota 
  2.19  attributable to the Mall of America, and to forecast the net tax 
  2.20  revenues that can be expected to accrue through the year 2005.  
  2.21  In determining the net tax revenues attributable to the mall, 
  2.22  the study shall exclude revenues that would be derived from 
  2.23  other facilities in Minnesota if the mall had not been built.  
  2.24  The study shall take into account both direct tax revenues, such 
  2.25  as those that accrue through the sales tax on purchases made at 
  2.26  the mall, and indirect tax revenues, such as hotel sales taxes 
  2.27  for mall patrons that stay overnight, and sales and income taxes 
  2.28  derived from mall employees.  In determining the net tax 
  2.29  benefits of the Mall of America, the study shall also net out 
  2.30  any increased state costs due to state services that must be 
  2.31  provided to the mall and its patrons and employees.  The study 
  2.32  must be completed by December 31, 1999. 
  2.33     Sec. 3.  [REPAYMENT OBLIGATION ELIMINATED.] 
  2.34     If the study in section 2 concludes that additional tax 
  2.35  revenues to the state of Minnesota derived from the Mall of 
  2.36  America have exceeded the sum of $52,300,000, or are projected 
  3.1   to exceed that sum by June 30, 2005, the city of Bloomington's 
  3.2   obligation to repay the areawide pool under Minnesota Statutes 
  3.3   1998, section 473F.08, subdivision 3a, is removed.  In the event 
  3.4   of such a determination, the commissioner shall certify to the 
  3.5   commissioner of revenue that this condition has been met. 
  3.6      Sec. 4.  [EFFECTIVE DATE.] 
  3.7      This act is effective the day following final enactment.