HF 3815

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

  1.1                          A bill for an act
  1.2             relating to property taxation; providing flood loss 
  1.3             aid for counties; appropriating money; amending 
  1.4             Minnesota Statutes 1997 Supplement, section 275.71, 
  1.5             subdivision 4; proposing coding for new law in 
  1.6             Minnesota Statutes, chapter 273. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [273.1383] [1997 FLOOD LOSS REPLACEMENT AID.] 
  1.9      Subdivision 1.  [FLOOD NET TAX CAPACITY LOSS.] In 
  1.10  assessment years 1998, 1999, and 2000, the county assessor of 
  1.11  each county listed in section 273.124, subdivision 14, paragraph 
  1.12  (d), shall compute a hypothetical county net tax capacity based 
  1.13  upon market values for the current assessment year and the class 
  1.14  rates that were in effect for assessment year 1997.  The amount, 
  1.15  if any, by which the assessment year 1997 total taxable net tax 
  1.16  capacity exceeds the hypothetical taxable net tax capacity shall 
  1.17  be known as the county's "flood net tax capacity loss" for the 
  1.18  current assessment year.  The county assessor of each county 
  1.19  whose flood net tax capacity loss for the current year exceeds 
  1.20  five percent of its assessment year 1997 total taxable net tax 
  1.21  capacity shall certify its flood net tax capacity loss to the 
  1.22  commissioner of revenue by July 15 of the assessment year. 
  1.23     Subd. 2.  [FLOOD LOSS AID.] Each year, each county with a 
  1.24  flood net tax capacity loss equal to or greater than five 
  1.25  percent of its assessment year 1997 total taxable net tax 
  1.26  capacity shall be entitled to flood loss aid equal to the flood 
  2.1   net tax capacity loss times the county's average local tax rate 
  2.2   for taxes payable in 1998. 
  2.3      Subd. 3.  [DUTIES OF COMMISSIONER.] The commissioner of 
  2.4   revenue shall determine each qualifying county's aid amount.  If 
  2.5   the sum of the aid amounts for all qualifying counties exceeds 
  2.6   the appropriation limit, the commissioner shall proportionately 
  2.7   reduce each county's aid amount so that the sum of county aid 
  2.8   amounts is equal to the appropriation limit.  The commissioner 
  2.9   shall notify each county of its flood loss aid amount by August 
  2.10  15 of the assessment year.  The commissioner shall make payments 
  2.11  to each county on July 15 of the taxes payable year 
  2.12  corresponding to the assessment year. 
  2.13     Subd. 4.  [APPROPRIATION.] An amount necessary to fund the 
  2.14  aid amounts under this section, but not to exceed $2,000,000 per 
  2.15  year, is annually appropriated from the general fund to the 
  2.16  commissioner of revenue for calendar years 1999, 2000, and 2001. 
  2.17     Sec. 2.  Minnesota Statutes 1997 Supplement, section 
  2.18  275.71, subdivision 4, is amended to read: 
  2.19     Subd. 4.  [PROPERTY TAX LEVY LIMIT.] For taxes levied in 
  2.20  1997 and 1998, the property tax levy limit for a local 
  2.21  governmental unit is equal to its adjusted levy limit base 
  2.22  determined under subdivision 3 plus any additional levy 
  2.23  authorized under section 275.73, which is levied against net tax 
  2.24  capacity, reduced by the sum of (1) the total amount of aids 
  2.25  that the local governmental unit is certified to receive under 
  2.26  sections 477A.011 to 477A.014, (2) homestead and agricultural 
  2.27  aids it is certified to receive under section 273.1398, (3) 
  2.28  local performance aid it is certified to receive under section 
  2.29  477A.05, and (4) taconite aids under sections 298.28 and 298.282 
  2.30  including any aid which was required to be placed in a special 
  2.31  fund for expenditure in the next succeeding year, and (5) flood 
  2.32  loss aid under section 273.1383. 
  2.33     Sec. 3.  [EFFECTIVE DATE.] 
  2.34     Section 1 is effective beginning with assessment year 1998 
  2.35  for aids payable in 1999.  Section 2 is effective beginning with 
  2.36  taxes payable in 1999.