SF 1160

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to fiscal disparities; deleting a required 
  1.3             adjustment to the city of Bloomington's fiscal 
  1.4             disparities contribution; amending Minnesota Statutes 
  1.5             1994, section 473F.08, subdivision 3a. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1994, section 473F.08, 
  1.8   subdivision 3a, is amended to read: 
  1.9      Subd. 3a.  Beginning in 1987 and each subsequent year 
  1.10  through 1998, the city of Bloomington shall determine the 
  1.11  interest payments for that year for the bonds which have been 
  1.12  sold for the highway improvements pursuant to Laws 1986, chapter 
  1.13  391, section 2, paragraph (g).  Effective for property taxes 
  1.14  payable in 1988 through property taxes payable in 1999, after 
  1.15  the Hennepin county auditor has computed the areawide portion of 
  1.16  the levy for the city of Bloomington pursuant to subdivision 3, 
  1.17  clause (a), the auditor shall annually add a dollar amount to 
  1.18  the city of Bloomington's areawide portion of the levy equal to 
  1.19  the amount which has been certified to the auditor by the city 
  1.20  of Bloomington for the interest payments for that year for the 
  1.21  bonds which were sold for highway improvements.  The total 
  1.22  areawide portion of the levy for the city of Bloomington 
  1.23  including the additional amount for interest repayment certified 
  1.24  pursuant to this subdivision shall be certified by the Hennepin 
  1.25  county auditor to the administrative auditor pursuant to 
  2.1   subdivision 5.  The Hennepin county auditor shall distribute to 
  2.2   the city of Bloomington the additional areawide portion of the 
  2.3   levy computed pursuant to this subdivision at the same time that 
  2.4   payments are made to the other counties pursuant to subdivision 
  2.5   7a.  For property taxes payable from the year 2000 through 2009, 
  2.6   the Hennepin county auditor shall adjust Bloomington's 
  2.7   contribution to the areawide gross tax capacity upward each year 
  2.8   by a value equal to ten percent of the total additional areawide 
  2.9   levy distributed to Bloomington under this subdivision from 1988 
  2.10  to 1999, divided by the areawide tax rate for taxes payable in 
  2.11  the previous year.