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HF 2321

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 02:01am

KEY: stricken = removed, old language.
underscored = added, new language.
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Bill Text Versions

Engrossments
Introduction Posted on 04/15/2009

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13
1.14 1.15

A bill for an act
 relating to taxation; property; exempting certain publicly owned railroad
property; amending Minnesota Statutes 2008, section 272.02, by adding a
subdivision.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2008, section 272.02, is amended by adding a
subdivision to read:


new text begin Subd. 90. new text end

new text begin Railroad wye connections. new text end

new text begin Any portion of a railroad wye connection,
including the track, ties, ballast, switch gear, and related improvements, is exempt if it
meets all of the following: (1) is publicly owned; (2) is funded, in whole or in part, by
state grants; (3) is located within the metropolitan area as defined in section 473.121,
subdivision 2; (4) includes a single track segment that is no longer than 2,500 feet in
length; (5) connects intersecting rail lines; and (6) is constructed after January 1, 2009.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for assessment year 2009 and
thereafter, for taxes payable in 2010 and thereafter.
 new text end