HF 3168

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to taxation; allowing a rebate for 1998 
  1.3             property taxes to owners of residential property, 
  1.4             including seasonal recreational residential property, 
  1.5             and to renters. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [1998 PROPERTY TAX REBATE.] 
  1.8      Subdivision 1.  [PRINCIPAL RESIDENCE.] (a) A credit is 
  1.9   allowed against the tax imposed under Minnesota Statutes, 
  1.10  chapter 290, to an individual equal to 20 percent of the 
  1.11  qualified property tax paid before January 1, 1999, for taxes 
  1.12  assessed in 1997. 
  1.13     (b) For property owned and occupied by the individual 
  1.14  during 1998, qualified property tax means property taxes payable 
  1.15  as defined in Minnesota Statutes, section 290A.03, subdivision 
  1.16  13, assessed in 1997 and payable in 1998, except the requirement 
  1.17  that the taxpayer own and occupy the property on January 2, 
  1.18  1998, does not apply.  The property tax must be deductible under 
  1.19  section 164 of the Internal Revenue Code to qualify. 
  1.20     (c) For a renter, the qualified property tax means the 
  1.21  amount of rent constituting property taxes under Minnesota 
  1.22  Statutes, section 290A.03, subdivision 11, based on rent paid in 
  1.23  1998.  If two or more renters could be claimants under Minnesota 
  1.24  Statutes, chapter 290A, with regard to the rent constituting 
  1.25  property taxes, the rules under Minnesota Statutes, section 
  2.1   290A.03, subdivision 8, paragraph (f), apply to determine the 
  2.2   amount of the credit for the individual. 
  2.3      (d) For an individual who both owned and rented principal 
  2.4   residences in calendar year 1998, qualified taxes are the sum of 
  2.5   the amounts under paragraphs (a) and (b). 
  2.6      (e) For purposes of this subdivision, net taxes are taxes 
  2.7   after any credit allowed under Minnesota Statutes, section 
  2.8   290A.04, subdivision 2h. 
  2.9      Subd. 2.  [SECOND HOME.] (a) In addition to the credit 
  2.10  allowed under subdivision 1, an individual may claim a credit 
  2.11  equal to 20 percent of the net taxes paid before January 1, 
  2.12  1999, for taxes assessed in 1997 and payable in 1998 on a 
  2.13  seasonal residential recreational property not used for 
  2.14  commercial purposes, classified under Minnesota Statutes, 
  2.15  section 273.13, subdivision 25. 
  2.16     (b) For purposes of this subdivision, net taxes are taxes 
  2.17  after any credit received under Minnesota Statutes, sections 
  2.18  290.06, subdivision 25, and 290A.04, subdivision 2j. 
  2.19     (c) To qualify, the individual must own the property, in 
  2.20  whole or part, and the taxes must be deductible under section 
  2.21  164 of the Internal Revenue Code. 
  2.22     Subd. 3.  [DEFINITIONS.] (a) For purposes of this section, 
  2.23  the following terms have the meanings given. 
  2.24     (b) "Individual" excludes a dependent as defined in 
  2.25  sections 151 and 152 of the Internal Revenue Code, disregarding 
  2.26  section 152(b)(3). 
  2.27     (c) "Internal Revenue Code" means the Internal Revenue Code 
  2.28  of 1986, as amended through December 31, 1997. 
  2.29     Subd. 4.  [ADMINISTRATIVE PROVISIONS.] (a) If the amount of 
  2.30  the credit under this section exceeds the taxpayer's tax 
  2.31  liability under Minnesota Statutes, chapter 290, the 
  2.32  commissioner shall refund the excess. 
  2.33     (b) To claim a credit under this section, the taxpayer must 
  2.34  attach a copy of the property tax statement and certificate of 
  2.35  rent paid, as applicable, and provide any additional information 
  2.36  the commissioner requires. 
  3.1      (c) An amount sufficient to pay refunds under this section 
  3.2   is appropriated to the commissioner from the general fund. 
  3.3      (d) This credit applies to taxable years beginning after 
  3.4   December 31, 1997, and before January 1, 1999. 
  3.5      (e) Payment of the credit under this section is subject to 
  3.6   Minnesota Statutes, chapter 270A, and any other provision 
  3.7   applicable to refunds under Minnesota Statutes, chapter 290.