SF 429

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

A bill for an act
relating to retirement; Public Employees Retirement
Association; clarifying collection procedures relating
to charter schools; amending Minnesota Statutes 2004,
section 353.28, subdivisions 5, 6.

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

Section 1.

Minnesota Statutes 2004, section 353.28,
subdivision 5, is amended to read:

Subd. 5.

Interest charges chargeable on amounts due.

Any
amount due under this section or section 353.27, subdivision 4,
is payable with interest at an annual compound rate of 8.5
percent compounded annually from the date due until the date
payment is received by the association, with a minimum interest
charge of $10. Interest for past due payments of excess police
state aid under section 69.031, subdivision 5, must be charged
at an annual rate of 8.5 percent compounded annually.

Sec. 2.

Minnesota Statutes 2004, section 353.28,
subdivision 6, is amended to read:

Subd. 6.

failure to pay collection of unpaid amounts.

(a)
If the a governmental subdivision other than a charter school
fails to pay amounts an amount due under chapters chapter 353,
353A, 353B, 353C, and or 353D or fails to make payments of
excess police state aid to the public employees police and fire
fund under section 69.031, subdivision 5, the executive director
shall certify those amounts the amount to the governmental
subdivision for payment. If the governmental subdivision fails
to remit the sum so due in a timely fashion, the executive
director shall certify amounts the amount to the applicable
county auditor for collection. The county auditor shall collect
such amounts the amount out of the revenue of the governmental
subdivision, or shall add them the amount to the levy of the
governmental subdivision and make payment directly to the
association. This tax shall must be levied, collected, and
apportioned in the manner that other taxes are levied,
collected, and apportioned.

(b) If a charter school fails to pay an amount due under
this chapter, the executive director shall certify the amount to
the charter school for payment. If the charter school fails to
pay the amount for a period of 60 days after certification, the
executive director shall certify the amount to the commissioner
of finance, who shall deduct the amount from any subsequent
state-aid payment or state appropriation amount applicable to
the charter school.

Sec. 3. EFFECTIVE DATE.

Sections 1 and 2 are effective July 1, 2005.