as introduced - 83rd Legislature (2003 - 2004) Posted on 12/15/2009 12:00am
Engrossments | ||
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Introduction | Posted on 03/22/2004 |
1.1 A bill for an act 1.2 relating to taxation; authorizing the Lakes Area 1.3 Economic Development Authority to levy a tax; amending 1.4 Laws 2003, chapter 127, article 12, section 38. 1.5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.6 Section 1. Laws 2003, chapter 127, article 12, section 38, 1.7 is amended to read: 1.8 Sec. 38. [MEMBERS MUSTAUTHORITY TO LEVY TAXESFOR1.9AUTHORITY.] 1.10(a) A member shall, at the request of the authority, levy a1.11tax in any year for the benefit of the authority.The authority 1.12 is a special taxing district as defined in Minnesota Statutes, 1.13 section 275.066, clause (13), with the power to adopt and 1.14 certify a property tax levy to the county auditor. The 1.15 authority may levy a tax in any year for the benefit of the 1.16 authority. The taxis,for each member,is a pro rata portion 1.17 of the total amount of tax requested by the authority based on 1.18 the taxable market value withinathe member's jurisdiction, but 1.19 in no event may the tax in any year exceed 0.01813 percent of 1.20 taxable market value. For purposes of this section, "taxable 1.21 market value" has the meaning as given in Minnesota Statutes, 1.22 section 273.032. 1.23(b) The treasurer of each member city or town shall, within1.2415 days after receiving the property tax settlements from the1.25county treasurer, pay to the treasurer of the authority the2.1amount collected for this purpose. The money must be used by2.2the authority for the purposes provided by sections 35 to 41.2.3 [EFFECTIVE DATE.] This section is effective for taxes 2.4 levied in 2004, payable in 2005, and thereafter.