MN SF2919

Reduces the occupation tax rate on nonferrous mining (all ores except iron ore and taconite) from 2.45 percent to 1.45 percent, effective for taxable years beginning after December 31, 2013.

Increases the net proceeds tax on nonferrous mining from 2 percent to 3 percent of net proceeds, effective for taxable years beginning after December 31, 2013.

Modifies distribution of net proceeds and production tax revenues by reallocating percentages among the Douglas J. Johnson economic protection trust fund (from 5 to 3 percent) and taconite environmental protection fund (from 5 to 7 percent), effective July 1, 2014.

Adjusts taconite production tax distribution to school districts by increasing per-ton allocations: from 32.15 to 33.5 cents total allocation, from 3.43 to 3.88 cents for mining district schools, and from 24.72 to 25.17 cents for tax relief area schools, effective for 2015 distribution.

Increases taconite production tax distribution to counties from 10.525 to 11.416 cents per taxable ton for county road and bridge funds, effective for 2015 distribution; adds new reduced guarantee provision for counties with mines or plants ceased 10+ years prior.