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HF 3373

as introduced - 86th Legislature (2009 - 2010) Posted on 03/03/2010 04:46pm

KEY: stricken = removed, old language.
underscored = added, new language.
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A bill for an act
 relating to taxation; property; extending deadline for remaining property from
green acres program without additional taxes; amending Minnesota Statutes
2009 Supplement, section 273.111, subdivision 9.

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

Section 1.

Minnesota Statutes 2009 Supplement, section 273.111, subdivision 9,
is amended to read:


Subd. 9.

Additional taxes.

(a) Except as provided in paragraph (b), when real
property which is being, or has been valued and assessed under this section no longer
qualifies under subdivision 3, the portion no longer qualifying shall be subject to additional
taxes, in the amount equal to the difference between the taxes determined in accordance
with subdivision 4, and the amount determined under subdivision 5. Provided, however,
that the amount determined under subdivision 5 shall not be greater than it would have
been had the actual bona fide sale price of the real property at an arm's-length transaction
been used in lieu of the market value determined under subdivision 5. Such additional
taxes shall be extended against the property on the tax list for the current year, provided,
however, that no interest or penalties shall be levied on such additional taxes if timely
paid, and provided further, that such additional taxes shall only be levied with respect to
the last three years that the said property has been valued and assessed under this section.

(b) Real property that has been valued and assessed under this section prior to
May 29, 2008, and that ceases to qualify under this section after May 28, 2008, and is
withdrawn from the programnew text begin : (1)new text end before deleted text begin May 1deleted text end new text begin August 15new text end , 2010, new text begin is not eligible for
treatment under this section for taxes payable in 2011 and thereafter, and new text end is not subject to
additional taxes under this subdivision or subdivision 3, paragraph (c)new text begin ; (2) after August
15, 2010, but before August 15, 2011, is not eligible for treatment under this section
for taxes payable in 2012 and thereafter, and is subject to additional taxes as described
in paragraph (a), but only with respect to the last year that the property has been valued
and assessed under this section; or (3) after August 15, 2011, but before August 15, 2012,
is not eligible for treatment under this section for taxes payable in 2013 and thereafter,
and is subject to additional taxes as described in paragraph (a), but only with respect to
the last two years that the property has been valued and assessed under this sectionnew text end . If
additional taxes have been paid under this subdivision with respect to property described
in this paragraph prior to April 3, 2009, the county must repay the property owner in the
manner prescribed by the commissioner of revenue.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
 new text end