1.1                          A bill for an act 
  1.2             relating to taxation; reducing the threshold to 
  1.3             qualify for state aid for cities with concentrations 
  1.4             of class 4d property; amending Minnesota Statutes 
  1.5             1998, section 477A.06, subdivision 1. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 1998, section 477A.06, 
  1.8   subdivision 1, is amended to read: 
  1.9      Subdivision 1.  [ELIGIBILITY.] (a) For assessment years 
  1.10  1998, 1999, and 2000, for all class 4d property on which 
  1.11  construction was begun before January 1, 1999, the assessor 
  1.12  shall determine the difference between the actual net tax 
  1.13  capacity and the net tax capacity that would be determined for 
  1.14  the property if the class rates for assessment year 1997 were in 
  1.15  effect. 
  1.16     (b) In calendar years 1999, 2000, and 2001, each city shall 
  1.17  be eligible for aid equal to (i) the amount by which the sum of 
  1.18  the differences determined in clause (a) for the corresponding 
  1.19  assessment year exceeds ~~2.5~~ two percent of the city's total 
  1.20  taxable net tax capacity for taxes payable in 1998, multiplied 
  1.21  by (ii) the city government's average local tax rate for taxes 
  1.22  payable in 1998. 
  1.23     Sec. 2.  [EFFECTIVE DATE.] 
  1.24     Section 1 is effective beginning for aid payable in 
  1.25  calendar year 2000.