275.295 WETLANDS EXEMPTION; REPLACEMENT OF REVENUE.
Subdivision 1. Certification.
The total amount of revenue lost as a result of the exemption
provided in section
272.02, subdivision 11
, clause (iii), must be certified by the county auditor to
the commissioner of revenue and submitted to the commissioner as part of the abstract of tax
lists to be filed with the commissioner under the provisions of section
. The amount of
revenue lost as a result of the exemption must be computed each year by applying the current
local tax rates of the taxing jurisdictions in which the wetlands are located to the net tax capacity
of the wetlands. Payment to the county for lost revenue must not be less than the revenue that
would have been received in taxes if the wetlands had a net tax capacity of 50 cents per acre.
The commissioner of revenue shall review the certification for accuracy and may make necessary
changes or return the certification to the county auditor for corrections.
Subd. 2. Payment.
Based on current year tax data reported in the abstracts of tax lists, the
commissioner of revenue shall annually determine the taxing district distribution of the amounts
certified under subdivision 1. The commissioner shall pay to each taxing district, other than school
districts, its total payment for the year at the time distributions are made under section
Subd. 3. Appropriation.
There is appropriated from the general fund to the commissioner
of revenue the amount necessary to make the payments required in subdivision 2. There is
appropriated from the general fund to the commissioner of education the amount necessary to
make the payments determined under subdivisions 1 and 2 for school districts.
History: 1991 c 354 art 4 s 7; 1993 c 375 art 3 s 27; 1997 c 31 art 3 s 10; 2003 c 130 s 12