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MN HF2696
Bill
Status
Introduced
3/5/2012
Primary Sponsor
Michael Beard
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AI Summary
- Changes the financial assistance formula for cities and towns providing replacement transit service under Metropolitan Council oversight
- Increases the percentage of state sales tax revenues (chapter 297B) used in the assistance calculation from 3.74 percent to 6.25 percent
- Assistance amount is calculated based on 2001 baseline transit grants or tax revenues, adjusted by the ratio of sales tax revenues and property value growth through 2006
- Metropolitan Council must fund the assistance from the metropolitan area transit account
- Applies to proposed replacement transit services that meet or exceed the efficiency and effectiveness of existing council-provided service
Legislative Description
Metropolitan Council; formula changed for assistance to cities and towns with replacement transit service.
Last Action
Introduction and first reading, referred to Transportation Policy and Finance
3/5/2012
Committee Referrals
Transportation Finance and Policy3/5/2012
Full Bill Text
No bill text available