Bill Text: MN HF1055 | 2013-2014 | 88th Legislature | Engrossed
Bill Title: Mortgage registry and deed tax deposit in the housing development fund provided.
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Introduced - Dead) 2013-03-14 - Committee report, to pass as amended and re-refer to Taxes vote: 71-61 [HF1055 Detail]
Download: Minnesota-2013-HF1055-Engrossed.html
1.2relating to taxation; providing for deposit of certain mortgage registry and deed
1.3taxes in the housing development fund; amending Minnesota Statutes 2012,
1.4sections 287.12; 287.29, subdivision 1.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 287.12, is amended to read:
1.7287.12 TAXES, HOW APPORTIONED.
1.8(a) All taxes paid to the county treasurer under the provisions of sections287.01
1.9to287.12 must be apportioned, 97 percent to the general fund of the state, and three
1.10percent to the county revenue fund.
1.11(b) On or before the 20th day of each month the county treasurer shall determine and
1.12pay to the commissioner of revenue for deposit in the state treasuryand credit to the general
1.13fund the state's portion of the receipts from the mortgage registry tax during the preceding
1.14month subject to the electronic payment requirements of section270C.42 . The county
1.15treasurer shall provide any related reports requested by the commissioner of revenue.
1.16(c) Counties must remit the state's portion of the June receipts collected through June
1.1725 and the estimated state's portion of the receipts to be collected during the remainder of
1.18the month to the commissioner of revenue two business days before June 30 of each year.
1.19The remaining amount of the June receipts is due on August 20.
1.20(d) Each fiscal year, the commissioner of revenue shall deposit the revenues received
1.21from the county under paragraph (b) in the state treasury and credit the revenues as follows:
1.22(1) in fiscal year 2014, the first $95,800,000 in collections shall be deposited in the
1.23general fund, and any excess to the housing development fund under section 462A.20;
2.1(2) in fiscal year 2015, the first $94,000,000 in collections shall be deposited in the
2.2general fund, and any excess to the housing development fund under section 462A.20;
2.3(3) in fiscal year 2016, the first $97,600,000 in collections shall be deposited in the
2.4general fund, and any excess to the housing development fund under section 462A.20; and
2.5(4) in fiscal year 2017 and each subsequent fiscal year, the first $97,400,000
2.6in collections shall be deposited in the general fund, and any excess to the housing
2.7development fund under section 462A.20.
2.8 Sec. 2. Minnesota Statutes 2012, section 287.29, subdivision 1, is amended to read:
2.9 Subdivision 1. Appointment and payment of tax proceeds. (a) The proceeds of
2.10the taxes levied and collected under sections287.21 to
287.39 must be apportioned, 97
2.11percent to the general fund of the state, and three percent to the county revenue fund.
2.12(b) On or before the 20th day of each month, the county treasurer shall determine
2.13and pay to the commissioner of revenue for deposit in the state treasuryand credit to the
2.14general fund the state's portion of the receipts for deed tax from the preceding month
2.15subject to the electronic transfer requirements of section270C.42 . The county treasurer
2.16shall provide any related reports requested by the commissioner of revenue.
2.17(c) Counties must remit the state's portion of the June receipts collected through June
2.1825 and the estimated state's portion of the receipts to be collected during the remainder of
2.19the month to the commissioner of revenue two business days before June 30 of each year.
2.20The remaining amount of the June receipts is due on August 20.
2.21(d) Each fiscal year, the commissioner of revenue shall deposit the revenue received
2.22from the county under paragraph (b) as follows:
2.23(1) in fiscal year 2014, the first $82,500,000 in collections shall be deposited in the
2.24general fund, and any excess to the housing development fund under section 462A.20;
2.25(2) in fiscal year 2015, the first $97,600,000 in collections shall be deposited in the
2.26general fund, and any excess to the housing development fund under section 462A.20;
2.27(3) in fiscal year 2016, the first $103,700,000 in collections shall be deposited in the
2.28general fund, and any excess to the housing development fund under section 462A.20; and
2.29(4) in fiscal year 2017 and each subsequent fiscal year, the first $103,400,000
2.30in collections shall be deposited in the general fund, and any excess to the housing
2.31development fund under section 462A.20.
1.3taxes in the housing development fund; amending Minnesota Statutes 2012,
1.4sections 287.12; 287.29, subdivision 1.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2012, section 287.12, is amended to read:
1.7287.12 TAXES, HOW APPORTIONED.
1.8(a) All taxes paid to the county treasurer under the provisions of sections
1.9to
1.10percent to the county revenue fund.
1.11(b) On or before the 20th day of each month the county treasurer shall determine and
1.12pay to the commissioner of revenue for deposit in the state treasury
1.13
1.14month subject to the electronic payment requirements of section
1.15treasurer shall provide any related reports requested by the commissioner of revenue.
1.16(c) Counties must remit the state's portion of the June receipts collected through June
1.1725 and the estimated state's portion of the receipts to be collected during the remainder of
1.18the month to the commissioner of revenue two business days before June 30 of each year.
1.19The remaining amount of the June receipts is due on August 20.
1.20(d) Each fiscal year, the commissioner of revenue shall deposit the revenues received
1.21from the county under paragraph (b) in the state treasury and credit the revenues as follows:
1.22(1) in fiscal year 2014, the first $95,800,000 in collections shall be deposited in the
1.23general fund, and any excess to the housing development fund under section 462A.20;
2.1(2) in fiscal year 2015, the first $94,000,000 in collections shall be deposited in the
2.2general fund, and any excess to the housing development fund under section 462A.20;
2.3(3) in fiscal year 2016, the first $97,600,000 in collections shall be deposited in the
2.4general fund, and any excess to the housing development fund under section 462A.20; and
2.5(4) in fiscal year 2017 and each subsequent fiscal year, the first $97,400,000
2.6in collections shall be deposited in the general fund, and any excess to the housing
2.7development fund under section 462A.20.
2.8 Sec. 2. Minnesota Statutes 2012, section 287.29, subdivision 1, is amended to read:
2.9 Subdivision 1. Appointment and payment of tax proceeds. (a) The proceeds of
2.10the taxes levied and collected under sections
2.11percent to the general fund of the state, and three percent to the county revenue fund.
2.12(b) On or before the 20th day of each month, the county treasurer shall determine
2.13and pay to the commissioner of revenue for deposit in the state treasury
2.14
2.15subject to the electronic transfer requirements of section
2.16shall provide any related reports requested by the commissioner of revenue.
2.17(c) Counties must remit the state's portion of the June receipts collected through June
2.1825 and the estimated state's portion of the receipts to be collected during the remainder of
2.19the month to the commissioner of revenue two business days before June 30 of each year.
2.20The remaining amount of the June receipts is due on August 20.
2.21(d) Each fiscal year, the commissioner of revenue shall deposit the revenue received
2.22from the county under paragraph (b) as follows:
2.23(1) in fiscal year 2014, the first $82,500,000 in collections shall be deposited in the
2.24general fund, and any excess to the housing development fund under section 462A.20;
2.25(2) in fiscal year 2015, the first $97,600,000 in collections shall be deposited in the
2.26general fund, and any excess to the housing development fund under section 462A.20;
2.27(3) in fiscal year 2016, the first $103,700,000 in collections shall be deposited in the
2.28general fund, and any excess to the housing development fund under section 462A.20; and
2.29(4) in fiscal year 2017 and each subsequent fiscal year, the first $103,400,000
2.30in collections shall be deposited in the general fund, and any excess to the housing
2.31development fund under section 462A.20.
