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MN SF2549
Bill
Status
Introduced
3/6/2023
Primary Sponsor
Tou Xiong
Click for details
AI Summary
- Allows political subdivisions that received local sales and use tax authority in Laws 2021, First Special Session chapter 14, article 8 to increase aggregate project funding by up to an additional 25 percent to address inflation-related construction cost increases
- Permits corresponding extension of the time period during which the tax is imposed to match the increased funding amount
- Authorizes extension of bond maturity dates beyond the standard 30-year requirement imposed under Minnesota Statutes, section 475.54
- Requires governing bodies to adopt a resolution approving the increases and submit it to the state auditor no later than September 1, 2023
- Exempts political subdivisions from holding an additional referendum to approve these increases
Legislative Description
Local sales and use tax authorization modification to provide temporary authority to increase funding for projects authorized in 2021
Last Action
Author added Putnam
3/15/2023
Committee Referrals
Taxes3/6/2023
Full Bill Text
No bill text available