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SF 2930

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

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

Current Version - as introduced

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A bill for an act
 relating to transportation; authorizing bonding and appropriating money for
highways; creating trunk highway motor vehicle sales tax collection account in
the trunk highway fund; modifying allocation of proceeds of motor vehicle sales
tax; removing obsolete language and making technical and clarifying changes;
amending Minnesota Statutes 2004, section 297B.09; proposing coding for new
law in Minnesota Statutes, chapter 167.

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

Section 1. new text begin HIGHWAY BONDING AND APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $15,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for program
delivery and for the cost of actual payments to landowners for lands acquired for highway
rights-of-way, payments to lessees, interest subsidies, and relocation expenses.
 new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the
trunk highway fund, the commissioner of finance shall sell and issue bonds of the state in
an amount up to $15,000,000 in the manner, upon the terms, and with the effect prescribed
by Minnesota Statutes, sections 167.50 to 167.52, and by the Minnesota Constitution,
article XIV, section 11. The proceeds of the bonds, except accrued interest and any
premium received on the sales of the bonds, must be credited to a bond proceeds account
in the trunk highway fund.
new text end

new text begin Subd. 3. new text end

new text begin Bond sale expenses. new text end

new text begin $15,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of finance for bond sale expenses
under Minnesota Statutes, sections 16A.641, subdivision 8, and 167.50, subdivision 4.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2006.
 new text end

Sec. 2. new text begin HIGHWAY BONDING AND APPROPRIATION.
new text end

new text begin Subdivision 1. new text end

new text begin Appropriation. new text end

new text begin $35,000,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of transportation for program
delivery and for the cost of actual payments to landowners for lands acquired for highway
rights-of-way, payments to lessees, interest subsidies, and relocation expenses.
 new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in this section from the
trunk highway fund, the commissioner of finance shall sell and issue bonds of the state in
an amount up to $35,000,000 in the manner, upon the terms, and with the effect prescribed
by Minnesota Statutes, sections 167.50 to 167.52, and by the Minnesota Constitution,
article XIV, section 11. The proceeds of the bonds, except accrued interest and any
premium received on the sales of the bonds, must be credited to a bond proceeds account
in the trunk highway fund.
new text end

new text begin Subd. 3. new text end

new text begin Bond sale expenses. new text end

new text begin $35,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of finance for bond sale expenses
under Minnesota Statutes, sections 16A.641, subdivision 8, and 167.50, subdivision 4.
 new text end

Sec. 3. new text begin HIGHWAY BONDING AND APPROPRIATIONS.
new text end

new text begin Subdivision 1. new text end

new text begin Trunk highway projects financed by state bonds. new text end

new text begin (a)
$2,450,000,000 is appropriated from the bond proceeds account in the trunk highway fund
to the commissioner of transportation for the actual construction, reconstruction, and
improvement of trunk highways. This includes the cost of actual payments to landowners
for lands acquired for highway rights-of-way, payments to lessees, interest subsidies,
and relocation expenses.
 new text end

new text begin (b) The commissioner of transportation may use up to $375,000,000 of this
appropriation for program delivery.
new text end

new text begin Subd. 2. new text end

new text begin Bond sale. new text end

new text begin To provide the money appropriated in subdivision 1 from the
bond proceeds account in the trunk highway fund, the commissioner of finance shall sell
and issue bonds of the state in an amount up to $2,450,000,000 in the manner, on the
terms, and with the effect prescribed by Minnesota Statutes, sections 167.50 to 167.52,
and by the Minnesota Constitution, article XIV, section 11, at the times and in the amounts
requested by the commissioner of transportation. The proceeds of the bonds, except
accrued interest and any premium received from the sale of the bonds, must be deposited
in the bond proceeds account in the trunk highway fund.
 new text end

new text begin Subd. 3. new text end

new text begin Bond sale expenses. new text end

new text begin $2,450,000 is appropriated from the bond proceeds
account in the trunk highway fund to the commissioner of finance for bond sale expenses
under Minnesota Statutes, sections 16A.641, subdivision 8, and 167.50, subdivision 4.
 new text end

Sec. 4.

new text begin [167.515] MOTOR VEHICLE SALES TAX COLLECTION ACCOUNT.
 new text end

new text begin The commissioner of finance shall maintain in the trunk highway fund a separate
account designated as the Minnesota motor vehicle sales tax collection account. Money in
the account consists of proceeds allocated to the account from the motor vehicles sales tax
under section 297B.09. Money from the account may be spent for debt service incurred
pursuant to sections 2 and 3.
new text end

Sec. 5.

Minnesota Statutes 2004, section 297B.09, is amended to read:


297B.09 ALLOCATION OF REVENUE.

Subdivision 1.

Deposit of revenues.

(a) Money collected and received under this
chapter must be deposited as provided in this subdivision.

(b) deleted text begin From July 1, 2002, to June 30, 2003, 32 percent of the money collected and
received must be deposited in the highway user tax distribution fund, 20.5 percent must be
deposited in the metropolitan area transit fund under section 16A.88, and 1.25 percent
must be deposited in the greater Minnesota transit fund under section 16A.88. The
remaining money must be deposited in the general fund.
deleted text end

deleted text begin (c)deleted text end From July 1, 2003, deleted text begin todeleted text end new text begin through new text end June 30, 2007, 30 percent of the money collected
and received must be deposited in the highway user tax distribution fund, 21.5 percent
must be deposited in the metropolitan area transit fund under section 16A.88, 1.43
percent must be deposited in the greater Minnesota transit fund under section 16A.88,
0.65 percent must be deposited in the county state-aid highway fund, and 0.17 percent
must be deposited in the municipal state-aid street fund. The remaining money must
be deposited in the general fund.

deleted text begin (d) On and afterdeleted text end new text begin (c) From new text end July 1, 2007, deleted text begin 32deleted text end new text begin through June 30, 2008, 38.25 new text end percent deleted text begin of
the money collected and receiveddeleted text end must be deposited in the highway user tax distribution
fund, deleted text begin 20.5deleted text end new text begin 24.225 new text end percent must be deposited in the metropolitan area transit fund under
section 16A.88, and new text begin 1.275 new text end percent must be deposited in the greater Minnesota transit
fund under section 16A.88. The remaining money must be deposited in the general
fund.new text begin Of the amount from this paragraph deposited in the state trunk highway fund, 16.5
percent must be deposited in the motor vehicle sales tax collection account established
in section 167.515.new text end

new text begin (d) From July 1, 2008, through June 30, 2009, 44.25 percent must be deposited in the
highway user tax distribution fund, 28.025 percent must be deposited in the metropolitan
area transit fund under section 16A.88, and 1.475 percent must be deposited in the greater
Minnesota transit fund under section 16A.88. The remaining money must be deposited in
the general fund. Of the amount from this paragraph deposited in the state trunk highway
fund, 27.5 percent must be deposited in the motor vehicle sales tax collection account
established in section 167.515.
 new text end

new text begin (e) From July 1, 2009, through June 30, 2010, 50.25 percent must be deposited in the
highway user tax distribution fund, 31.825 percent must be deposited in the metropolitan
area transit fund under section 16A.88, and 1.675 percent must be deposited in the greater
Minnesota transit fund under section 16A.88. The remaining money must be deposited in
the general fund. Of the amount from this paragraph deposited in the state trunk highway
fund, 36.5 percent must be deposited in the motor vehicle sales tax collection account
established in section 167.515.
 new text end

new text begin (f) From July 1, 2010, through June 30, 2011, 56.25 percent must be deposited in the
highway user tax distribution fund, 35.625 percent must be deposited in the metropolitan
area transit fund under section 16A.88, and 1.875 percent must be deposited in the greater
Minnesota transit fund under section 16A.88. The remaining money must be deposited in
the general fund. Of the amount from this paragraph deposited in the state trunk highway
fund, 43 percent must be deposited in the motor vehicle sales tax collection account
established in section 167.515.
 new text end

new text begin (g) On and after July 1, 2011, 60 percent must be deposited in the highway user tax
distribution fund, 38 percent must be deposited in the metropolitan area transit fund under
section 16A.88, and two percent must be deposited in the greater Minnesota transit fund
under section 16A.88. The remaining money must be deposited in the general fund. Of
the amount from this paragraph deposited in the state trunk highway fund, 46.7 percent
must be deposited in the motor vehicle sales tax collection account established in section
167.515.
 new text end

Sec. 6. new text begin CONTINGENT EFFECTIVE DATE.
new text end

new text begin Sections 2 to 5 are effective upon the adoption of the constitutional amendment
proposed in Laws 2005, chapter 88, article 3, section 9, by the people at the 2006 general
election.
 new text end