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Minnesota Legislature

Office of the Revisor of Statutes

SF 3707

as introduced - 90th Legislature (2017 - 2018) Posted on 04/13/2018 09:11am

KEY: stricken = removed, old language.
underscored = added, new language.

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 2.1 2.2 2.3 2.4 2.5

A bill for an act
relating to taxation; property; requiring the commissioner of revenue to study
adequacy of valuation of pipeline companies.

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

Section 1. new text beginSTUDY OF VALUATION METHOD OF PIPELINE OPERATING
PROPERTY.
new text end

new text begin (a) The commissioner of revenue shall study and prepare a report on the current methods
used to value pipeline operating property in the state of Minnesota.
new text end

new text begin (b) The report must:
new text end

new text begin (1) describe, in detail, prior and current methods used to value pipeline operating property
in Minnesota;
new text end

new text begin (2) evaluate whether the current methods used produce an accurate estimate of market
value;
new text end

new text begin (3) compile and explain, in detail, the number of state-assessed pipeline valuations that
have been appealed in the last 20 years, and the extent to which the market value was
increased or reduced, by agreement, settlement, or judgment;
new text end

new text begin (4) evaluate the extent to which host political subdivisions and communities are
adequately compensated under the existing Minnesota property tax system for the external
costs imposed by pipeline systems;
new text end

new text begin (5) describe, analyze, and compare the methods used to value pipeline operating property
in border states; and
new text end

new text begin (6) make recommendations and prepare legislation on improvements or alternative
valuation methods that produce a more accurate estimate of market value.
new text end

new text begin (c) The commissioner shall report the findings of the study to the committees of the
house of representatives and senate having jurisdiction over taxes by February 15, 2019,
and file the report as required by Minnesota Statutes, section 3.195.
new text end