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SF 2980

as introduced - 88th Legislature (2013 - 2014) Posted on 05/12/2014 08:48am

KEY: stricken = removed, old language.
underscored = added, new language.
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Current Version - as introduced

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A bill for an act
 relating to taxation; property; phasing out the state general levy; amending
Minnesota Statutes 2012, section 275.025, subdivision 1; repealing Minnesota
Statutes 2012, section 275.025.

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

Section 1.

Minnesota Statutes 2012, 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 deleted text begin base amountdeleted text end is deleted text begin $592,000,000deleted text end new text begin $567,800,000new text end for taxes
payable in deleted text begin 2002deleted text end new text begin 2015, and $283,900,000 for taxes payable in 2016new text end . deleted text begin For taxes payable in
subsequent years, the 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.deleted text end 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 beginning with taxes payable in 2015.
 new text end

Sec. 2. new text begin REPEALER.
new text end

new text begin Minnesota Statutes 2012, section 275.025, 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 beginning with taxes payable in 2017.
 new text end