HF 4114

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxes; amending the requirements for 
  1.3             revenue estimates; amending Minnesota Statutes 1998, 
  1.4             section 270.067, subdivision 5. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 1998, section 270.067, 
  1.7   subdivision 5, is amended to read: 
  1.8      Subd. 5.  [REVENUE ESTIMATES; LEGISLATIVE BILLS.] Upon 
  1.9   reasonable notice from the chair of the house or senate tax 
  1.10  committee that a bill is scheduled for hearing, the commissioner 
  1.11  of revenue shall prepare an estimate of the effect on the 
  1.12  state's tax revenues which would result from the passage of a 
  1.13  legislative bill establishing, extending, or restricting a tax 
  1.14  expenditure.  These revenue estimates shall contain the same 
  1.15  information as provided in subdivision 4 for expenditure items 
  1.16  contained in the tax expenditure budget, as appropriate.  For 
  1.17  purposes of this subdivision, any estimate of a tax expenditure 
  1.18  that is less than $200,000 annually shall be reported as a 
  1.19  minimal expenditure.  
  1.20     Sec. 2.  [EFFECTIVE DATE.] 
  1.21     Section 1 is effective beginning with revenue estimates 
  1.22  made for legislative proposals after the 2000 legislative 
  1.23  session.