as introduced - 93rd Legislature (2023 - 2024) Posted on 02/16/2023 01:40pm
Engrossments | ||
---|---|---|
Introduction | Posted on 02/16/2023 |
A bill for an act
relating to local taxes; authorizing the city of Stillwater to impose a sales and use
tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
new text begin
Notwithstanding Minnesota Statutes,
section 477A.016, or any other law, ordinance, or city charter, and if approved by the voters
at a general election as required under Minnesota Statutes, section 297A.99, subdivision 3,
the city of Stillwater may impose by ordinance a sales and use tax of one-half of one percent
for the purpose specified in subdivision 2. Except as otherwise provided in this section, the
provisions of Minnesota Statutes, section 297A.99, govern the imposition, administration,
collection, and enforcement of the tax authorized under this subdivision. The tax imposed
under this subdivision is in addition to any local sales and use tax imposed under any other
special law.
new text end
new text begin
The revenues derived from the tax authorized
under subdivision 1 must be used by the city of Stillwater to pay the costs of collecting and
administering the tax, and to finance up to $12,500,000 for the construction, renovation,
and improvements to the Riverfront Improvement Project.
new text end
new text begin
(a) The city of Stillwater may issue bonds under Minnesota
Statutes, chapter 475, to finance all or a portion of the costs of the project authorized in
subdivision 2. The aggregate principal amount of bonds issued under this subdivision may
not exceed $12,500,000.
new text end
new text begin
(b) The bonds may be paid from or secured by any funds available to the city of Stillwater,
including the tax authorized under subdivision 1. The issuance of bonds under this
subdivision is not subject to Minnesota Statutes, sections 275.60 and 275.61.
new text end
new text begin
(c) The bonds are not included in computing any debt limitation applicable to the city
of Stillwater, and any levy of taxes under Minnesota Statutes, section 475.61, to pay principal
and interest on the bonds is not subject to any levy limitation. A separate election to approve
the bonds under Minnesota Statutes, section 475.58, is not required.
new text end
new text begin
Subject to Minnesota Statutes, section 297A.99,
subdivision 12, the tax imposed under subdivision 1 expires at the earlier of (1) 20 years
after the tax is first imposed, or (2) when the city council determines that the amount received
from the tax is sufficient to pay for the project costs authorized under subdivision 2, plus
an amount sufficient to pay the costs related to issuance of any bonds authorized under
subdivision 3, including interest on the bonds. Except as otherwise provided in Minnesota
Statutes, section 297A.99, subdivision 3, paragraph (f), any funds remaining after payment
of the allowed costs due to the timing of the termination of the tax under Minnesota Statutes,
section 297A.99, subdivision 12, must be placed in the general fund of the city. The tax
imposed under subdivision 1 may expire at an earlier time if the city so determines by
ordinance.
new text end
new text begin
This section is effective the day after the governing body of the
city of Stillwater and its chief clerical officer comply with Minnesota Statutes, section
645.021, subdivisions 2 and 3.
new text end