SF 923

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; providing for use of the 
  1.3             revenues derived from the mortgage and deed taxes; 
  1.4             appropriating money; amending Minnesota Statutes 1998, 
  1.5             sections 287.12; and 287.21, subdivision 2. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1998, section 287.12, is 
  1.8   amended to read: 
  1.9      287.12 [TAXES, HOW APPORTIONED.] 
  1.10     All taxes paid to the county treasurer under the provisions 
  1.11  of sections 287.01 to 287.12 shall be apportioned, 97 percent to 
  1.12  the general fund of the state, and three percent to the county 
  1.13  revenue fund. 
  1.14     On or before the tenth day of each month the county 
  1.15  treasurer shall determine and pay to the commissioner of revenue 
  1.16  for deposit in the state treasury and credit to the general fund 
  1.17  the state's portion of the receipts from the mortgage 
  1.18  registration tax during the preceding month.  The county 
  1.19  treasurer shall provide any related reports requested by the 
  1.20  commissioner of revenue. 
  1.21     The amount deposited in the general fund is annually 
  1.22  appropriated as follows: 
  1.23     (1) 75 percent to the commissioner of the housing finance 
  1.24  agency, to be used for housing programs; and 
  1.25     (2) 25 percent to the commissioner of trade and economic 
  2.1   development, for deposit in the contaminated site cleanup and 
  2.2   development account created under section 116J.551. 
  2.3      Sec. 2.  Minnesota Statutes 1998, section 287.21, 
  2.4   subdivision 2, is amended to read: 
  2.5      Subd. 2.  [APPORTIONMENT OF PROCEEDS.] The proceeds of the 
  2.6   taxes levied and collected under sections 287.21 to 287.36 shall 
  2.7   be apportioned, 97 percent to the general fund of the state, and 
  2.8   three percent to the county revenue fund.  
  2.9      The amount deposited in the general fund is annually 
  2.10  appropriated as provided in section 287.12, for the proceeds of 
  2.11  the mortgage registry tax. 
  2.12     Sec. 3.  [EFFECTIVE DATE.] 
  2.13     Sections 1 and 2 are effective for amounts deposited after 
  2.14  June 30, 1999.