Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
February 25, 2015 MINERALS TAX School districts authorized to receive distributions from the taconite production tax Yes DOR Administrative Cost/Savings Department of Revenue Analysis of H.F. 0371 (Anzelc) / S.F. 0671 (Saxhaug) as introduced Fund Impact FY2016 FY2017 FY2018 (000's) General Fund $0 $0 $0 No X FY2019 $0 Effective for distributions in 2016 and thereafter. EXPLANATION OF THE BILL The bill would make the Deer River and Floodwood school districts eligible to receive production tax distributions from the 24.72 cent and taconite referendum school funds. REVENUE ANALYSIS DETAIL There are currently 15 school districts receiving production tax distributions from the 24.72 cent fund. Under the proposal, making two additional school districts eligible would shift production tax revenue distribution away from school districts currently receiving a distribution. The two newly eligible districts would also qualify to receive a distribution from the taconite referendum fund. Increasing distributions from this fund would reduce distributions to the Taconite Environmental Fund and the Douglas J. Johnson Economic Fund. The proposed changes to the local distribution of taconite production taxes is assumed to have no impact on the state general fund. Source: Minnesota Department of Revenue Property Tax Division - Research Unit www.revenue.state.mn.us/research_stats/ pages/revenue-analyses.aspx hf0371(sf0671)_pt_1/nrg 1 | Department of Revenue | Analysis of H.F. 0371 (Anzelc) / S.F. 0671 (Saxhaug) as introduced