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Minnesota Legislature

Office of the Revisor of Statutes

SF 1479

as introduced - 89th Legislature (2015 - 2016) Posted on 03/10/2015 08:50am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating taxation; property; modifying the state general levy base amount;
modifying seasonal residential recreational tax capacity; amending Minnesota
Statutes 2014, section 275.025, subdivisions 1, 3; repealing Minnesota Statutes
2014, section 275.025, subdivision 4.

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

Section 1.

Minnesota Statutes 2014, section 275.025, subdivision 1, is amended to read:


Subdivision 1.

Levy amount.

The state general levy is levied against
commercial-industrial property and seasonal residential recreational property, as defined
in this section. The state general levy base amountnew text begin for commercial-industrial propertynew text end is
deleted text begin$592,000,000deleted text endnew text begin $726,001,800new text end for taxes payable in deleted text begin2002deleted text endnew text begin 2016new text end. new text beginThe state general levy base
amount for seasonal residential recreational property is $34,973,700 for taxes payable in
2016, $22,716,400 for taxes payable in 2017, and $10,745,600 for taxes payable in 2018.
new text endFor taxes payable in subsequent years, deleted text beginthedeleted text endnew text begin eachnew text end levy base amount is increased each year
by multiplying the levy base amount for the prior year by the sum of one plus the rate of
increase, if any, in the implicit price deflator for government consumption expenditures
and gross investment for state and local governments prepared by the Bureau of Economic
Analysts of the United States Department of Commerce for the 12-month period ending
March 31 of the year prior to the year the taxes are payable. The tax under this section is
not treated as a local tax rate under section 469.177 and is not the levy of a governmental
unit under chapters 276A and 473F.

The commissioner shall increase or decrease the preliminary or final rate for a year
as necessary to account for errors and tax base changes that affected a preliminary or final
rate for either of the two preceding years. Adjustments are allowed to the extent that the
necessary information is available to the commissioner at the time the rates for a year must
be certified, and for the following reasons:

(1) an erroneous report of taxable value by a local official;

(2) an erroneous calculation by the commissioner; and

(3) an increase or decrease in taxable value for commercial-industrial or seasonal
residential recreational property reported on the abstracts of tax lists submitted under
section 275.29 that was not reported on the abstracts of assessment submitted under
section 270C.89 for the same year.

The commissioner may, but need not, make adjustments if the total difference in the tax
levied for the year would be less than $100,000.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxes payable in 2016 and
thereafter.
new text end

Sec. 2.

Minnesota Statutes 2014, section 275.025, subdivision 3, is amended to read:


Subd. 3.

Seasonal residential recreational tax capacity.

For the purposes of this
section, "seasonal residential recreational tax capacity" means the tax capacity of tier III of
class 1c under section 273.13, subdivision 22, and all class 4c(1), 4c(3)(ii), and 4c(12)
property under section 273.13, subdivision 25, except that the first $76,000 of market
value of each noncommercial class 4c(12) property deleted text beginhas a tax capacity for this purpose
equal to 40 percent of its tax capacity under section 273.13
deleted text endnew text begin shall be excluded for taxes
payable in 2016, the first $150,000 shall be excluded for taxes payable in 2017, and the
first $300,000 shall be excluded for taxes payable in 2018 and thereafter
new text end.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxes payable in 2016 and
thereafter.
new text end

Sec. 3. new text begin REPEALER.
new text end

new text begin Minnesota Statutes 2014, section 275.025, subdivision 4, new text end new text begin is repealed.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxes payable in 2016 and
thereafter.
new text end