HF 2314

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; amending Minnesota Statutes 1998, section 
  1.6             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.  [DETERMINATION BY COMMISSIONER OF REVENUE.] 
  2.14     By December 31, 1999, the commissioner of revenue shall 
  2.15  estimate the total amount of net tax capacity contributed to the 
  2.16  areawide pool under Minnesota Statutes 1998, section 473F.07, 
  2.17  subdivision 1, resulting from the retail shopping facility in 
  2.18  the city of Bloomington known as the Mall of America.  The 
  2.19  determination shall be made with regard to assessment years 1988 
  2.20  through 2004; estimated amounts shall be used for assessment 
  2.21  years 2000 through 2004.  The commissioner shall also estimate 
  2.22  the total amount of additional net tax capacity that the city of 
  2.23  Bloomington is required to repay the areawide pool under 
  2.24  Minnesota Statutes 1998, section 473F.08, subdivision 3a. 
  2.25     Sec. 3.  [REPAYMENT OBLIGATION ELIMINATED.] 
  2.26     If the determination in section 2 concludes that the total 
  2.27  net tax capacity contributed to the areawide pool resulting from 
  2.28  the Mall of America through assessment year 2004 will exceed the 
  2.29  estimated amount of the repayment contributions to the pool 
  2.30  required under Minnesota Statutes 1998, section 473F.08, 
  2.31  subdivision 3a, by more than a factor of two, the city of 
  2.32  Bloomington's obligation to repay the areawide pool is removed.  
  2.33  In the event of such a determination, the commissioner shall 
  2.34  certify that this condition has been met to the administrative 
  2.35  auditor. 
  2.36     Sec. 4.  [EFFECTIVE DATE.] 
  3.1      This act is effective the day following final enactment.