Legislative Session number- 81

Bill Name: SF0396

E Relating to state finance ARTICLE 1 - SALES TAX REBATEProviding for the refund
of the existing state budget surplus in the form of a nonbusiness sales tax
rebate using information contained in the Minnesota tax incidence report to
determine the proportionate share of the rebate due to eligible taxpayers;
requiring the commissioner of finance to by a certain date certify to the
commissioner of revenue the amount of revenues available for the rebate, amount
available to be the unrestricted general fund budgetary fund balance as of a
certain date plus a certain additional amount; specifying taxpayer eligibility
and prescribing the schedules for taxpayers filing jointly or separately,
defining income; specifying a total rebate limit and certain adjustment
requirements of the commissioner of revenue; requiring rebates not made by a
certain date to bear interest; including the rebate under the definition of
Minnesota tax law for tax data disclosure purposes and in the definition of
overpayment for delinquent tax liability purposes; taxpayer right to the rebate
to expire after a certain date; authorizing certain claims for correction;
subjecting the rebate to revenue recapture; granting the commissioner certain
enforcement authority relating to forged or improperly endorsed checks and
authorizing the commissioner in consultation with the commissioner of finance to
contract for check or warrant processing services; appropriating money to the
commissioner for the rebates ARTICLE 2 - DEDICATED ACCOUNTS Abolishing the tax
reform and reduction account, reverting the account balance to the unrestricted
general fund balance; establishing a tobacco settlement fund, requiring the
governor to make recommendations to the legislature relating to use of money in
the fund; requiring the commissioner of finance to credit tobacco litigation
settlement payments received after a certain date to the tobacco settlement
fund, other payments to be credited to the general fund ARTICLE 3 - AGRICULTURAL
TAX Establishing an offer-in-compromise program in the department of revenue;
requiring and providing for the commissioner of revenue to prescribe guidelines
for department employees relating to resolving tax liability disputes through
use of the program; expanding the capital gains tax exemption for farmers;
providing for certain payments to farmers in 1999 for assistance purposes,
providing for an agricultural property tax refund for certain livestock
producers in lieu of the payment, specifying certain application, certification
and verification requirements, requiring deduction of the refund from net
property taxes payable in applying for a regular property tax refund and
specifying a refund limit; appropriating money to the commissioner to make the
payments and to distribute to counties for the costs of administering the refund
program (rla, ja)