as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 11:34pm
A bill for an act
relating to taxation; property; exempting certain publicly owned railroad
property; amending Minnesota Statutes 2008, section 272.02, by adding a
subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2008, section 272.02, is amended by adding a
subdivision to read:
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Any portion of a railroad wye connection,
including the track, ties, ballast, switch gear, and related improvements, is exempt if it
meets all of the following: (1) is publicly owned; (2) is funded, in whole or in part, by
state grants; (3) is located within the metropolitan area as defined in section 473.121,
subdivision 2; (4) includes a single track segment that is no longer than 2,500 feet in
length; (5) connects intersecting rail lines; and (6) is constructed after January 1, 2009.
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This section is effective for assessment year 2009 and
thereafter, for taxes payable in 2010 and thereafter.
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