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MN SF479
Bill
Status
1/21/2025
Primary Sponsor
John Jasinski
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AI Summary
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Accelerates the timeline for dedicating sales tax revenue from motor vehicle repair and replacement parts to the transportation advancement account, reaching 56.5% by fiscal year 2030 instead of fiscal year 2033 under current law
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Modifies the phased-in percentages for the transportation advancement account: 7.6% (FY2027), 14.75% (FY2028), 22% (FY2029), and 56.5% (FY2030 and thereafter)
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Eliminates the previously scheduled phase-in years of FY2031 (36.5%), FY2032 (44.5%), and FY2033 (56.5%)
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Maintains the existing 43.5% annual allocation to the highway user tax distribution fund with the remainder going to the general fund
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Amends Minnesota Statutes 2024, section 297A.94, which governs the deposit of state sales tax revenues
Legislative Description
Distribution modification of proceeds from the sales tax on vehicle repair and replacement parts
Last Action
Referred to Transportation
1/21/2025