MN HF1822

Amends Minnesota Statutes section 297A.815, subdivision 3, to clarify that motor vehicle lease sales tax revenues deposited do not include revenues generated by the sales tax imposed under section 297A.62, subdivision 1a.

Specifies that revenues from section 297A.62, subdivision 1a, including interest and penalties, must be deposited as provided under the Minnesota Constitution, article XI, section 15, rather than through the motor vehicle lease revenue distribution process.

Defines "net revenue" for motor vehicle lease sales tax as total revenues collected during the fiscal year minus $32,000,000 annually.

Establishes that the commissioner of revenue estimates net revenue by June 30 each fiscal year, and the commissioner of management and budget transfers estimated amounts on or after July 1 to county state-aid highway funds and the greater Minnesota transit account.

Effective immediately upon final enactment, applying to estimates completed before June 30, 2017, for transfers occurring on or after July 1, 2017.