General Assembly Proposed Bill No. 496
January Session, 2011 LCO No. 1463
Referred to Committee on Planning and Development
Introduced by:
SEN. LOONEY, 11th Dist.
General Assembly
Proposed Bill No. 496
January Session, 2011
LCO No. 1463
Referred to Committee on Planning and Development
Introduced by:
SEN. LOONEY, 11th Dist.
AN ACT CONCERNING A MUNICIPAL TAX REVENUE SHARING SYSTEM.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That title 12 of the general statutes be amended to create a system of shared property tax revenue in which a portion of municipal property taxes generated by new commercial, industrial or research development is pooled.
Statement of Purpose:
To create a property tax revenue sharing system based on the Minnesota Tax-Base Sharing Plan.