SF 1285

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

  1.1                          A bill for an act 
  1.2             relating to taxation; providing for use of certain 
  1.3             proceeds of the mortgage registry tax and the deed 
  1.4             tax; amending Minnesota Statutes 1998, sections 
  1.5             287.12; and 287.21, subdivision 2. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1998, section 287.12, is 
  1.8   amended to read: 
  1.9      287.12 [TAXES, HOW APPORTIONED.] 
  1.10     (a) Except as provided in paragraph (b), all taxes paid to 
  1.11  the county treasurer under the provisions of sections 287.01 to 
  1.12  287.12 shall be apportioned, 97 percent to the general fund of 
  1.13  the state, and three percent to the county revenue fund. 
  1.14     On or before the tenth day of each month the county 
  1.15  treasurer shall determine and pay to the commissioner of revenue 
  1.16  for deposit in the state treasury and credit to the general fund 
  1.17  the state's portion of the receipts from the mortgage 
  1.18  registration tax during the preceding month.  The county 
  1.19  treasurer shall provide any related reports requested by the 
  1.20  commissioner of revenue. 
  1.21     (b) Beginning with fiscal year 2000 and each fiscal year 
  1.22  thereafter, if the amount credited to the general fund under 
  1.23  paragraph (a) exceeds the amount credited to the general fund 
  1.24  under paragraph (a) for fiscal year 1998, the excess over the 
  1.25  fiscal year 1998 amount must be credited to the community 
  2.1   rehabilitation fund account in the housing development fund 
  2.2   created by section 462A.20. 
  2.3      Sec. 2.  Minnesota Statutes 1998, section 287.21, 
  2.4   subdivision 2, is amended to read: 
  2.5      Subd. 2.  [APPORTIONMENT OF PROCEEDS.] (a) Except as 
  2.6   provided in paragraph (b), the proceeds of the taxes levied and 
  2.7   collected under sections 287.21 to 287.36 shall be apportioned, 
  2.8   97 percent to the general fund of the state, and three percent 
  2.9   to the county revenue fund.  
  2.10     (b) Beginning with fiscal year 2000 and each fiscal year 
  2.11  thereafter, if the amount credited to the general fund under 
  2.12  paragraph (a) exceeds the amount credited to the general fund 
  2.13  under paragraph (a) for fiscal year 1998, the excess over the 
  2.14  fiscal year 1998 amount must be credited to the community 
  2.15  rehabilitation fund account in the housing development fund 
  2.16  created by section 462A.20.