1997 Minnesota Statutes

     161.081 Highway user tax, distribution, investment. 

    Subdivision 1.    Distribution of five percent.  
 Pursuant to article 14, section 5, of the constitution, five 
 percent of the net highway user tax distribution fund is set 
 aside, and apportioned as follows: 

    (1) 28 percent to the trunk highway fund; 

    (2) 64 percent to a separate account in the county 
 state-aid highway fund to be known as the county turnback 
 account, which account in the state treasury is hereby created; 

    (3) 8 percent to a separate account in the municipal 
 state-aid street fund to be known as the municipal turnback 
 account, which account in the state treasury is hereby created.  

    Subd. 2.    Investment.  Upon the request of the 
 commissioner, money in the highway user tax distribution fund 
 shall be invested by the state board of investment in those 
 securities authorized for that purpose in section 11A.21.  All 
 interest and profits from the investments must be credited to 
 the highway user tax distribution fund.  The state treasurer 
 shall be the custodian of all securities purchased under this 
 section. 

    HIST: 1965 c 672 s 1; 1975 c 203 s 22; 1983 c 17 s 1; 1989 c 
 268 s 1; 1993 c 266 s 15