2006 Minnesota Statutes

16A.275 AGENCY RECEIPTS; DEPOSIT, REPORT, CREDIT.
    Subdivision 1. If $250, daily. Except as otherwise provided by law, an agency shall deposit
receipts totaling $250 or more in the state treasury daily. The depositing agency shall send a
report to the commissioner on the disposition of receipts since the last report. The commissioner
shall credit the deposits received during a month to the proper funds not later than the first day of
the next month.
Notwithstanding the general rule stated above, the commissioner of revenue is not required
to make daily deposits if (1) the volume of tax receipts cannot be processed daily with available
resources, or (2) receipts cannot be immediately identified for posting to accounts.
    Subd. 2. Exception. The commissioner may authorize an agency to deposit receipts
totaling $250 or more less frequently than daily for those locations where the agency furnishes
documentation to the commissioner that the cost of making daily deposits exceeds the lost interest
earnings and the risk of loss or theft of the receipts.
History: 1976 c 231 s 18; 2Sp1981 c 1 s 4; 1984 c 628 art 2 s 1; 1Sp1985 c 13 s 103;
1987 c 268 art 18 s 4; 1987 c 275 s 5