Bill Text: MN HF554 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Sustainable Forest Incentive Act tax incentive payments modified.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Introduced - Dead) 2013-02-22 - Referred by Chair to Property and Local Tax Division [HF554 Detail]
Download: Minnesota-2013-HF554-Introduced.html
1.2relating to taxes; modifying tax incentive payments for the Sustainable Forest
1.3Incentive Act;amending Minnesota Statutes 2012, sections 290C.06; 290C.07.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Minnesota Statutes 2012, section 290C.06, is amended to read:
1.6290C.06 CALCULATION OF AVERAGE ESTIMATED MARKET VALUE;
1.7MANAGED FOREST LAND TIMBERLAND.
1.8The commissioner shall annually calculate a statewide average estimated market
1.9value per acre for class2c managed forest land 2b timberland under section
273.13,
1.10subdivision 23 , paragraph (b).
1.11EFFECTIVE DATE.This section is effective for calculations made in 2014 and
1.12thereafter.
1.13 Sec. 2. Minnesota Statutes 2012, section 290C.07, is amended to read:
1.14290C.07 CALCULATION OF INCENTIVE PAYMENT.
1.15 (a) An approved claimant under the sustainable forest incentive program is eligible
1.16to receive an annual payment as provided in this section.The payment shall equal $7 per
1.17acre for each acre enrolled in the sustainable forest incentive program.
1.18(b)The annual payment for each Social Security number or state or federal business
1.19tax identification number must not exceed $100,000. For a claimant with no more than
1.201,920 acres enrolled, the payment shall be the greater of:
2.1(1) the difference between the property tax that would be paid on the land using the
2.2previous year's statewide average total township tax rate and the class rate for class 2b
2.3timberland under section 273.13, subdivision 23, paragraph (b), if the land were valued at:
2.4(i) the average statewide timberland market value per acre calculated under section
2.5290C.06; and
2.6(ii) the average statewide timberland current use value per acre calculated under
2.7section 290C.02, subdivision 5; or
2.8(2) two-thirds of the property tax amount determined by using the previous year's
2.9statewide average total township tax rate, the estimated market value per acre as calculated
2.10in section 290C.06, and the class rate for class 2b timberland under section 273.13,
2.11subdivision 23, paragraph (b), provided that the payment shall be no less than $7 per acre
2.12for each acre enrolled in the sustainable forest incentive program.
2.13(c) For a claimant with over 1,920 acres enrolled, the payment shall be $....... per
2.14acre for each acre enrolled in the sustainable forest incentive program.
2.15EFFECTIVE DATE.This section is effective for calculations made in 2014 and
2.16thereafter.
1.3Incentive Act;amending Minnesota Statutes 2012, sections 290C.06; 290C.07.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Minnesota Statutes 2012, section 290C.06, is amended to read:
1.6290C.06 CALCULATION OF AVERAGE ESTIMATED MARKET VALUE;
1.7
1.8The commissioner shall annually calculate a statewide average estimated market
1.9value per acre for class
1.10subdivision 23
1.11EFFECTIVE DATE.This section is effective for calculations made in 2014 and
1.12thereafter.
1.13 Sec. 2. Minnesota Statutes 2012, section 290C.07, is amended to read:
1.14290C.07 CALCULATION OF INCENTIVE PAYMENT.
1.15 (a) An approved claimant under the sustainable forest incentive program is eligible
1.16to receive an annual payment as provided in this section.
1.17
1.18(b)
1.19
1.201,920 acres enrolled, the payment shall be the greater of:
2.1(1) the difference between the property tax that would be paid on the land using the
2.2previous year's statewide average total township tax rate and the class rate for class 2b
2.3timberland under section 273.13, subdivision 23, paragraph (b), if the land were valued at:
2.4(i) the average statewide timberland market value per acre calculated under section
2.5290C.06; and
2.6(ii) the average statewide timberland current use value per acre calculated under
2.7section 290C.02, subdivision 5; or
2.8(2) two-thirds of the property tax amount determined by using the previous year's
2.9statewide average total township tax rate, the estimated market value per acre as calculated
2.10in section 290C.06, and the class rate for class 2b timberland under section 273.13,
2.11subdivision 23, paragraph (b), provided that the payment shall be no less than $7 per acre
2.12for each acre enrolled in the sustainable forest incentive program.
2.13(c) For a claimant with over 1,920 acres enrolled, the payment shall be $....... per
2.14acre for each acre enrolled in the sustainable forest incentive program.
2.15EFFECTIVE DATE.This section is effective for calculations made in 2014 and
2.16thereafter.
