Minnesota Session Laws - 1984, Regular Session

  

                         Laws of Minnesota 1984 

                        CHAPTER 524-H.F.No. 1846 
           An act relating to taxation; authorizing use of 
          proceeds of the taconite occupation tax for economic 
          development loans and grants to businesses; amending 
          Minnesota Statutes 1982, section 298.17. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1982, section 298.17, is 
amended to read: 
    298.17 [OCCUPATION TAXES TO BE APPORTIONED.] 
    All occupation taxes which shall become due and payable on 
May 1, 1924, and subsequent thereto, from paid by persons, 
copartnerships, companies, joint stock companies, corporations, 
and associations, however or for whatever purpose organized, 
engaged in the business of mining or producing iron ore or other 
ores, when collected shall be apportioned and distributed in 
accordance with the Constitution of the state of Minnesota, 
Article 10, Section 3, in the manner following:  90 percent 
shall be deposited in the state treasury and credited to the 
general fund of which four-ninths shall be used for the support 
of elementary and secondary schools; and ten percent of the 
proceeds of the tax imposed by this section shall be deposited 
in the state treasury and credited to the general fund for the 
general support of the university.  Of the moneys apportioned to 
the general fund by this section there is annually appropriated 
and credited to the iron range resources and rehabilitation 
board account in the special revenue fund an amount equal to 
that which would have been generated by a one cent tax imposed 
by section 298.24 on each taxable ton produced in the preceding 
calendar year, to be expended for the purposes of section 
298.22.  The moneys appropriated pursuant to this section shall 
be used (1) to provide environmental development grants to local 
governments located within any county in region 3 as defined in 
governor's executive order number 68, issued on June 12, 1970, 
which does not contain a municipality qualifying pursuant to 
section 273.134 or (2) to provide economic development loans or 
grants to businesses located within any such county, provided 
that the county board or an advisory group appointed by the 
county board to provide recommendations on economic development 
shall make recommendations to the iron range resources and 
rehabilitation board regarding the loans.  Payment to the iron 
range resources and rehabilitation board account shall be made 
by May 15 annually, beginning in 1981. 
    Approved April 25, 1984