2004 Minnesota Statutes

     473.253 Livable communities demonstration account. 

    Subdivision 1.    Sources of funds.  The council shall 
 credit to the livable communities demonstration account the 
 revenues provided in this subdivision.  This tax shall be levied 
 and collected in the manner provided by section 473.13.  The 
 levy shall not exceed the following amount for the years 
 specified:  

    (1) for taxes payable in 2004 and 2005, $8,259,070; and 

    (2) for taxes payable in 2006 and subsequent years, the 
 product of (i) the property tax levy limit under this 
 subdivision for the previous year multiplied by (ii) one plus a 
 percentage equal to the growth in the implicit price deflator as 
 defined in section 275.70, subdivision 2.  

    Subd. 2.    Distribution of funds.  The council shall 
 use the funds in the livable communities demonstration account 
 to make grants or loans to municipalities participating in the 
 local housing incentives program under section 473.254 or to 
 metropolitan area counties or development authorities to fund 
 the initiatives specified in section 473.25, paragraph (b), in 
 participating municipalities.  A grant to a metropolitan county 
 or a development authority must be used for a project in a 
 participating municipality.  For the purpose of this section, 
 "development authority" means a statutory or home rule charter 
 city, housing and redevelopment authority, economic development 
 authority, or port authority. 

    HIST: 1995 c 255 art 1 s 4; 2002 c 246 s 1; 1Sp2003 c 21 art 4 
 s 10; 2004 c 228 art 3 s 13