2006 Minnesota Statutes

270C.711 ACQUISITION AND RESALE OF SEIZED PROPERTY.
For the purpose of enabling the commissioner to purchase or redeem seized property in
which the state of Minnesota has an interest arising from a lien for unpaid taxes, or to provide
for the operating costs of collection activities of the department, there is appropriated to the
commissioner an amount representing the cost of such purchases, redemptions, or collection
activities. Seized property acquired by the state of Minnesota to satisfy unpaid taxes shall be
resold by the commissioner. The commissioner shall preserve the value of seized property while
controlling it, including but not limited to the procurement of insurance. For the purpose of
refunding the proceeds from the sale of levied or redeemed property which are in excess of
the actual tax liability plus costs of acquiring the property, there is hereby created a levied and
redeemed property refund account in the agency fund. All amounts deposited into this account
are appropriated to the commissioner. The commissioner shall report quarterly on the status
of this program to the chairs of the house Taxes and Ways and Means Committees and senate
Taxes and Tax Laws and Finance Committees.
History: 2005 c 151 art 1 s 86