(a) Beginning in fiscal year 2010, in lieu of the payment amount provided under section 477A.12, subdivision 1, clause (1), the county shall receive an annual payment for land acquired for Lake Vermilion State Park equal to 1.5 percent of the appraised value of the land.
(b) For the purposes of this section, the appraised value of the land acquired for Lake Vermilion State Park for the first five years after acquisition shall be the purchase price of the land, plus the value of any portion of the land that is acquired by donation. The appraised value must be redetermined by the county assessor every five years after the land is acquired.
(c) The annual payments under this section shall be distributed to the taxing jurisdictions containing the property as follows: one-third to the school districts; one-third to the town; and one-third to the county. The payment to school districts is not a county apportionment under section 127A.34 and is not subject to aid recapture. Each of those taxing jurisdictions may use the payments for their general purposes.
NOTE: This section is effective upon acquisition by the state by purchase or by gift of all lands described in Laws 2008, chapter 368, article 3, section 2, subdivision 3.
Official Publication of the State of Minnesota
Revisor of Statutes