SF 3364

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             proposing an amendment to the Minnesota Constitution, 
  1.3             adding a section to Article XI; providing for the 
  1.4             refund of excess state tax revenues. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [PROPOSED AMENDMENT.] 
  1.7      An amendment to the Minnesota Constitution, adding a 
  1.8   section to Article XI, is proposed to the people.  If the 
  1.9   amendment is adopted, the new section will read as follows: 
  1.10     Sec. 15.  An executive officer shall be charged by law to 
  1.11  make an estimate of the revenue from taxes expected to be 
  1.12  received by the state in each fiscal year.  If the tax revenue 
  1.13  actually received in any fiscal year exceeds the amount 
  1.14  estimated by two percent or more, each income and sales and use 
  1.15  taxpayer shall receive a refund of that same percent of the 
  1.16  income and sales and use taxes that the taxpayer has paid for 
  1.17  the taxpayer's most recent complete taxable year.  The operation 
  1.18  of this section may be suspended by a law adopted with the 
  1.19  concurrence of three-fifths of the members of each house of the 
  1.20  legislature. 
  1.21     Sec. 2.  [QUESTION.] 
  1.22     The proposed amendment shall be submitted to the people at 
  1.23  the 1998 general election.  The question submitted shall be: 
  1.24     "Shall the Minnesota Constitution be amended to provide for 
  1.25  the automatic refund of certain excess state tax revenues? 
  2.1                                      Yes .......
  2.2                                      No ........"