HF 4829

as introduced - 92nd Legislature (2021 - 2022) Posted on 04/26/2022 09:51am

A bill for an act
relating to taxation; sales and use; modifying the city of Moorhead local sales tax
authorization; amending Laws 2021, First Special Session chapter 14, article 8,
section 14, subdivision 4.

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

Section 1.

Laws 2021, First Special Session chapter 14, article 8, section 14, subdivision
4, is amended to read:

Subd. 4.

Termination of taxes.

new text begin (a) new text end The tax imposed under subdivision 1 expires at the
earlier of: (1) deleted text begin 22 deleted text end new text begin 30 new text end years after the tax is first imposed; or (2) when the city council
determines that the amount received from the tax is sufficient to pay for the project costs
authorized under subdivision 2 for the project approved by voters as required under
Minnesota Statutes, section 297A.99, subdivision 3, paragraph (a), plus an amount sufficient
to pay the costs related to issuance of any bonds authorized under subdivision 3, including
interest on the bonds. Except as otherwise provided in Minnesota Statutes, section 297A.99,
subdivision 3, paragraph (f), any funds remaining after payment of allowed costs due to the
timing of the termination of the tax under Minnesota Statutes, section 297A.99, subdivision
12, shall be placed in the general fund of the city. The tax imposed under subdivision 1 may
expire at an earlier time if the city so determines by ordinance.

new text begin (b) The modification to the termination date of the tax in paragraph (a) is notwithstanding
the requirements in Minnesota Statutes, section 297A.99, subdivision 2, paragraphs (a) and
(b).
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after the governing body of the
city of Moorhead and its chief clerical officer comply with Minnesota Statutes, section
645.021, subdivisions 2 and 3.
new text end