.................... moves to amend H.F. No. 2268, the delete everything amendment
(H2268DE1), as follows:
Page 2, after line 32, insert:
"Sec. 4. Minnesota Statutes 2006, section 275.61, subdivision 1, is amended to read:
Subdivision 1. Market value. (a)
For local governmental subdivisions other than
school districts, any levy
, including the issuance of debt obligations payable in whole or in
1.7 part from property taxes,
required to be approved and approved by the voters at a general
or special election for taxes payable in 1993 and thereafter, shall be levied against the
referendum market value of all taxable property within the governmental subdivision, as
defined in section
126C.01, subdivision 3
. Any levy amount subject to the requirements of
this section shall be certified separately to the county auditor under section
The ballot shall state the maximum amount of the increased levy as a percentage
of market value and the amount that will be raised by the new referendum tax rate in the
first year it is to be levied.
1.15 (c) This subdivision does not apply to tax levies for the payment of debt obligations
1.16that are approved by the voters after June 30, 2007.
1.17EFFECTIVE DATE.This section is effective the day following final enactment.
Page 6, after line 2, insert:
"Sec. 11. Minnesota Statutes 2006, section 373.40, subdivision 4, is amended to read:
Subd. 4. Limitations on amount.
A county, other than Ramsey, may not issue
bonds under this section if the maximum amount of principal and interest to become due in
any year on all the outstanding bonds issued pursuant to this section (including the bonds
to be issued) will equal or exceed
percent of taxable market value of property
in the county.
Ramsey county may not issue bonds under this section if the maximum
1.25 amount of principal and interest to become due in any year on all the outstanding bonds
1.26 issued pursuant to this section (including the bonds to be issued) will equal or exceed
2.1 0.06455 percent of taxable market value of property in the county.
Calculation of the
limit must be made using the taxable market value for the taxes payable year in which
the obligations are issued and sold. This section does not limit the authority to issue
bonds under any other special or general law.
2.5EFFECTIVE DATE.This section is effective for bonds issued after June 30, 2007.
Page 16, after line 11, insert:
"Sec. 25. Minnesota Statutes 2006, section 475.53, subdivision 1, is amended to read:
Subdivision 1. Generally.
Except as otherwise provided in sections
, no municipality, except a school district or a city of the first class, shall incur or
be subject to a net debt in excess of
percent of the market value of taxable
property in the municipality.
2.12EFFECTIVE DATE.This section is effective for obligations issued after June
Page 16, line 28, after "conveniences" insert ", but excluding a capital improvement,
2.15as defined under section 373.40, subdivision 1, paragraph (b), that is leased or used
2.16primarily by a county or an agency of a county
Renumber the sections in sequence and correct the internal references
Amend the title accordingly