Bill Text: MN HF3037 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Property tax disparity reduction credit class rate reduced.
Spectrum: Slight Partisan Bill (Democrat 3-1)
Status: (Introduced - Dead) 2014-03-13 - Introduction and first reading, referred to Taxes [HF3037 Detail]
Download: Minnesota-2013-HF3037-Introduced.html
1.2relating to taxation; property; reducing the class rate for the disparity reduction
1.3credit;amending Minnesota Statutes 2013 Supplement, section 273.1398,
1.4subdivision 4.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2013 Supplement, section 273.1398, subdivision 4,
1.7is amended to read:
1.8 Subd. 4. Disparity reduction credit. (a)Beginning with taxes payable in 1989,
1.9 Class 4a and class 3a property qualifies for a disparity reduction credit if: (1) the property
1.10is located in a border city that has an enterprise zone, as defined in section469.166 ; (2)
1.11the property is located in a city with a population greater than 2,500 and less than 35,000
1.12according to the 1980 decennial census; (3) the city is adjacent to a city in another state or
1.13immediately adjacent to a city adjacent to a city in another state; and (4) the adjacent city
1.14in the other state has a population of greater than 5,000 and less than 75,000 according to
1.15the 1980 decennial census.
1.16 (b) The credit is an amount sufficient to reduce (i) the taxes levied on class 4a
1.17property to1.9 1.5 percent of the property's taxable market value and (ii) the tax on class
1.183a property to1.9 1.5 percent of taxable market value.
1.19 (c) The county auditor shall annually certify the costs of the credits to the
1.20Department of Revenue. The department shall reimburse local governments for the
1.21property taxes forgone as the result of the credits in proportion to their total levies.
1.22EFFECTIVE DATE.This section is effective beginning with taxes payable in 2015.
1.3credit;amending Minnesota Statutes 2013 Supplement, section 273.1398,
1.4subdivision 4.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. Minnesota Statutes 2013 Supplement, section 273.1398, subdivision 4,
1.7is amended to read:
1.8 Subd. 4. Disparity reduction credit. (a)
1.9 Class 4a and class 3a property qualifies for a disparity reduction credit if: (1) the property
1.10is located in a border city that has an enterprise zone, as defined in section
1.11the property is located in a city with a population greater than 2,500 and less than 35,000
1.12according to the 1980 decennial census; (3) the city is adjacent to a city in another state or
1.13immediately adjacent to a city adjacent to a city in another state; and (4) the adjacent city
1.14in the other state has a population of greater than 5,000 and less than 75,000 according to
1.15the 1980 decennial census.
1.16 (b) The credit is an amount sufficient to reduce (i) the taxes levied on class 4a
1.17property to
1.183a property to
1.19 (c) The county auditor shall annually certify the costs of the credits to the
1.20Department of Revenue. The department shall reimburse local governments for the
1.21property taxes forgone as the result of the credits in proportion to their total levies.
1.22EFFECTIVE DATE.This section is effective beginning with taxes payable in 2015.
