§ 473F.01 — Purpose; Use of Proceeds
Plain-Language Summary
This section explains why the metro area tax base sharing program exists. It aims to share growth resources fairly among local governments, encourage orderly development, and protect the environment. Revenue from the shared tax goes into each city's general fund.
473F.01 PURPOSE; USE OF PROCEEDS.
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Subdivision 1.Purpose.
The legislature finds it desirable to improve the revenue raising and distribution system in the seven-county Twin Cities area to accomplish the following objectives:
(1) to provide a way for local governments to share in the resources generated by the growth of the area, without removing any resources which local governments already have;
(2) to increase the likelihood of orderly urban development by reducing the impact of fiscal considerations on the location of business and residential growth and of highways, transit facilities and airports;
(3) to establish incentives for all parts of the area to work for the growth of the area as a whole;
(4) to provide a way whereby the area’s resources can be made available within and through the existing system of local governments and local decision making;
(5) to help communities in different stages of development by making resources increasingly available to communities at those early stages of development and redevelopment when financial pressures on them are the greatest; and
(6) to encourage protection of the environment by reducing the impact of fiscal considerations so that floodplains can be protected and land for parks and open space can be preserved. §
Subd. 2.Use of proceeds.
Except as provided in section 473F.08, subdivision 3a, the proceeds from the areawide tax imposed under this chapter must be used by a local governmental unit in the same manner and for the same purposes as the proceeds from other ad valorem taxes levied by the local governmental unit.
History:
Ex1971 c 24 s 1; 1991 c 291 art 1 s 37
History: History: Ex1971 c 24 s 1; 1991 c 291 art 1 s 37