Skip to main content Skip to office menu Skip to footer
Capital IconMinnesota Legislature
Office of the Revisor of Statutes

SF 2745

as introduced - 86th Legislature (2009 - 2010) Posted on 02/18/2010 03:36pm

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
Rtf

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4 1.5
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20 1.21 1.22 1.23 1.24 2.1 2.2
2.3

A bill for an act
 relating to taxation; extending the deadline for withdrawal from the Green Acres
program; amending Minnesota Statutes 2009 Supplement, section 273.111,
subdivision 9.

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

Section 1.

Minnesota Statutes 2009 Supplement, section 273.111, subdivision 9,
is amended to read:


Subd. 9.

Additional taxes.

(a) Except as provided in paragraph (b), when real
property which is being, or has been valued and assessed under this section no longer
qualifies under subdivision 3, the portion no longer qualifying shall be subject to additional
taxes, in the amount equal to the difference between the taxes determined in accordance
with subdivision 4, and the amount determined under subdivision 5. Provided, however,
that the amount determined under subdivision 5 shall not be greater than it would have
been had the actual bona fide sale price of the real property at an arm's-length transaction
been used in lieu of the market value determined under subdivision 5. Such additional
taxes shall be extended against the property on the tax list for the current year, provided,
however, that no interest or penalties shall be levied on such additional taxes if timely
paid, and provided further, that such additional taxes shall only be levied with respect to
the last three years that the said property has been valued and assessed under this section.

(b) Real property that has been valued and assessed under this section prior to
May 29, 2008, and that ceases to qualify under this section after May 28, 2008, and is
withdrawn from the program before deleted text begin May 1, 2010deleted text end new text begin August 16, 2010new text end , is not subject to
additional taxes under this subdivision or subdivision 3, paragraph (c). If additional taxes
have been paid under this subdivision with respect to property described in this paragraph
prior to April 3, 2009, the county must repay the property owner in the manner prescribed
by the commissioner of revenue.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for withdrawals after April 30, 2010.
 new text end