MN HF2012

Increases county allocations of taconite production tax from 21.05 cents to 26.05 cents per taxable ton beginning in 2024, with distribution formulas remaining the same for 2015-2023 levels.

Increases county road and bridge fund allocations from 10.525 cents to 15.525 cents per taxable ton for distributions beginning in 2024.

Reduces Iron Range school consolidation and cooperatively operated school account allocations from 10 cents to 5 cents per taxable ton for distributions beginning in 2024, while maintaining 10 cents per taxable ton through 2023.

Maintains existing provisions for county distributions based on mining location and requirements for commissioner approval of school district bond payments and other expenditures.

Both amendments are effective the day following final enactment.