2001 Minnesota Statutes

     290C.07 Calculation of incentive payment. 

    An approved claimant under the sustainable forest incentive 
 program is eligible to receive an annual payment.  The payment 
 shall equal the greater of: 

    (1) the difference between the property tax that would be 
 paid on the property using the previous year's statewide average 
 total township tax rate and the class rate for class 2b 
 timberland under section 273.13, subdivision 23, paragraph (b), 
 if the property were valued at (i) the average statewide 
 timberland market value per acre calculated under section 
 290C.06, and (ii) the average statewide timberland current use 
 value per acre calculated under section 290C.02, subdivision 5; 

    (2) two-thirds of the property tax amount determined by 
 using the previous year's statewide average total township tax 
 rate, the estimated market value per acre as calculated in 
 section 290C.06, and the class rate for 2b timberland under 
 section 273.13, subdivision 23, paragraph (b); or 

    (3) $1.50 per acre for each acre enrolled in the 
 sustainable forest incentive program. 

    HIST: 1Sp2001 c 5 art 8 s 11 

*   NOTE:  This section, as added by Laws 2001, First Special 
*Session chapter 5, article 8, section 11, is effective for taxes 
*levied in 2002, payable in 2003, and thereafter.  Laws 2001, 
*First Special Session chapter 5, article 8, section 11, the 
*effective date.