§ 287.29 — Payment of Receipts to State General Fund; Reports
Plain-Language Summary
Addresses deed tax treatment of foreclosure sales and transfers resulting from mortgage default proceedings.
287.29 PAYMENT OF RECEIPTS TO STATE GENERAL FUND; REPORTS.
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Subdivision 1.Appointment and payment of tax proceeds.
(a) The proceeds of the taxes levied and collected under sections 287.21 to 287.385 must be apportioned, 97 percent to the general fund of the state, and three percent to the county revenue fund.
(b) On or before the 20th day of each month, the county treasurer shall determine and pay to the commissioner of revenue for deposit in the state treasury and credit to the general fund the state’s portion of the receipts for deed tax from the preceding month subject to the electronic transfer requirements of section 270C.42. The county treasurer shall provide any related reports requested by the commissioner of revenue.
(c) Counties must remit the state’s portion of the June receipts collected through June 25 and the estimated state’s portion of the receipts to be collected during the remainder of the month to the commissioner of revenue two business days before June 30 of each year. The remaining amount of the June receipts is due on August 20. §
Subd. 2.
MS 1980 [Repealed, 1981 c 164 s 12] §
Subd. 3.
MS 1984 [Repealed, 1Sp1985 c 14 art 11 s 13]
History:
1961 c 647 s 9; 1969 c 399 s 1; 1973 c 582 s 3; 1981 c 164 s 2; 1Sp1985 c 14 art 11 s 10; 1Sp1986 c 1 art 4 s 37; 1Sp1989 c 1 art 3 s 25; 1990 c 480 art 7 s 24; 1999 c 31 s 18; 2000 c 260 s 49; 1Sp2003 c 21 art 9 s 5; 2005 c 151 art 2 s 17; 2016 c 158 art 1 s 158
History: History: 1961 c 647 s 9; 1969 c 399 s 1; 1973 c 582 s 3; 1981 c 164 s 2; 1Sp1985 c 14 art 11 s 10; 1Sp1986 c 1 art 4 s 37; 1Sp1989 c 1 art 3 s 25; 1990 c 480 art 7 s 24; 1999 c 31 s 18; 2000 c 260 s 49; 1Sp2003 c 21 art 9 s 5; 2005 c 151 art 2 s 17; 2016 c 158 art 1 s 158