1.1 	A bill for an act
1.2 	relating to property taxes; extending the 2010 city market value credit reductions 
1.3 	to 2011 and 2012.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. 2011 AND 2012 CITY MARKET VALUE CREDIT REDUCTIONS.
1.6 	In 2011 and 2012, the market value credit reimbursement for each city payable 
1.7 	under Minnesota Statutes, section 273.1384, is reduced by the dollar amount of the 2010 
1.8 	reduction in the market value credit reimbursement for the city due to unallotment under 
1.9 	Minnesota Statutes, section 16A.152, subdivision 4. No city's 2011 or 2012 market value 
1.10 	credit reimbursement is reduced to less than zero under this section. To the extent sufficient 
1.11 	information is available on each payment date, the commissioner shall pay the annual 2011 
1.12 	and 2012 market value credit reimbursement amounts, after reduction under this section, 
1.13 	in equal installments on the dates specified in Minnesota Statutes, section 273.1384.

1.14 	EFFECTIVE DATE. This section is effective for aids payable in 2011 and 2012.