Bill Text: MN SF740 | 2011-2012 | 87th Legislature | Introduced

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Bill Title: Revenue commissioner contract authority to regulate abusive transfer pricing schemes

Spectrum: Partisan Bill (Republican 2-0)

Status: (Introduced - Dead) 2011-03-10 - Referred to State Government Innovation and Veterans [SF740 Detail]

Download: Minnesota-2011-SF740-Introduced.html

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A bill for an act

relating to taxation; providing contract authority to commissioner of revenue;
regulating abusive transfer pricing schemes.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

    Section 1. TAX COLLECTION; ABUSIVE TRANSFER PRICING SCHEMES.
(a) The commissioner of revenue shall issue a request for proposals for a contract
to enhance the state's ability to identify and collect tax revenues from taxpayers that are
using abusive transfer pricing schemes to reduce the amount of their income subject to
tax under Minnesota Statutes, chapter 290.
(b) The commissioner shall enter into a two-year contract for the services specified in
paragraph (a) by September 1, 2011. The contract must incorporate a performance-based
compensation system whereby the vendor is not paid until tax revenues are collected and
deposited in the state general fund.
(c) An amount sufficient to pay the vendor is appropriated from the general fund
to the Department of Revenue.
EFFECTIVE DATE.This section is effective the day following final enactment.