SF 923

1st Engrossment - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act
  1.2             relating to housing; allocating a portion of mortgage 
  1.3             and deed tax payments to housing purposes; exempting 
  1.4             certain housing construction material purchases from 
  1.5             the sales tax; appropriating money; amending Minnesota 
  1.6             Statutes 1998, sections 287.12; 287.21, subdivision 2; 
  1.7             and 297A.25, by adding a subdivision. 
  1.8   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.9      Section 1.  Minnesota Statutes 1998, section 287.12, is 
  1.10  amended to read: 
  1.11     287.12 [TAXES, HOW APPORTIONED.] 
  1.12     (a) Except as provided in paragraph (b), all taxes paid to 
  1.13  the county treasurer under the provisions of sections 287.01 to 
  1.14  287.12 shall be apportioned, 97 percent to the general fund of 
  1.15  the state, and three percent to the county revenue fund. 
  1.16     On or before the tenth day of each month the county 
  1.17  treasurer shall determine and pay to the commissioner of revenue 
  1.18  for deposit in the state treasury and credit to the general fund 
  1.19  the state's portion of the receipts from the mortgage 
  1.20  registration tax during the preceding month.  The county 
  1.21  treasurer shall provide any related reports requested by the 
  1.22  commissioner of revenue. 
  1.23     (b) Beginning with fiscal year 2000 and each fiscal year 
  1.24  thereafter, if the amount credited to the general fund under 
  1.25  paragraph (a) exceeds the amount credited to the general fund 
  1.26  under paragraph (a) for fiscal year 1997, the excess over the 
  2.1   fiscal year 1997 amount must be credited to the community 
  2.2   rehabilitation fund account in the housing development fund 
  2.3   created by section 462A.20. 
  2.4      Sec. 2.  Minnesota Statutes 1998, section 287.21, 
  2.5   subdivision 2, is amended to read: 
  2.6      Subd. 2.  [APPORTIONMENT OF PROCEEDS.] (a) Except as 
  2.7   provided in paragraph (b), the proceeds of the taxes levied and 
  2.8   collected under sections 287.21 to 287.36 shall be apportioned, 
  2.9   97 percent to the general fund of the state, and three percent 
  2.10  to the county revenue fund.  
  2.11     (b) Beginning with fiscal year 2000 and each fiscal year 
  2.12  thereafter, if the amount credited to the general fund under 
  2.13  paragraph (a) exceeds the amount credited to the general fund 
  2.14  under paragraph (a) for fiscal year 1997, the excess over the 
  2.15  fiscal year 1997 amount must be credited to the community 
  2.16  rehabilitation fund account in the housing development fund 
  2.17  created by section 462A.20. 
  2.18     Sec. 3.  Minnesota Statutes 1998, section 297A.25, is 
  2.19  amended by adding a subdivision to read: 
  2.20     Subd. 79.  [CONSTRUCTION MATERIALS; HOUSING PROJECTS AND 
  2.21  HOUSING DEVELOPMENT PROJECTS.] Purchases of materials and 
  2.22  supplies used or consumed in, and fixtures, furnishings, and 
  2.23  equipment incorporated into, the construction or improvement of 
  2.24  housing projects or housing development projects are exempt from 
  2.25  the tax imposed under this section, regardless of whether 
  2.26  purchased by the owner or a contractor, subcontractor, or 
  2.27  builder.  The tax shall be calculated and paid as if the rate in 
  2.28  section 297A.02, subdivision 1, was in effect and a refund 
  2.29  applied for in the manner prescribed in section 297A.15, 
  2.30  subdivision 7.  For purposes of this subdivision, "housing 
  2.31  project" is defined pursuant to section 469.002, subdivision 15, 
  2.32  and means the following: 
  2.33     (1) is owned by a housing and redevelopment authority 
  2.34  established under sections 469.001 to 469.047 or special law or 
  2.35  an economic development authority enabled with the powers of 
  2.36  sections 469.001 to 469.047; 
  3.1      (2) has or will receive federal low-income housing tax 
  3.2   credits and will have rents for the initial 15 years of 
  3.3   occupancy that are no more than the maximum monthly rent allowed 
  3.4   to be charged under the program; or 
  3.5      (3) has received financial assistance in the form of a loan 
  3.6   or grant from the Minnesota housing finance agency or local 
  3.7   government and a condition of the assistance is an agreement 
  3.8   regarding the maximum amount of monthly rent paid.