1.1    .................... moves to amend H. F. No. 3149, the delete everything amendment
1.2(A08-1657), as follows:
1.3Page 85, after line 2, insert:

1.4    "Sec. 29. [273.90] MAXIMUM HOMESTEAD PROPERTY TAXES.
1.5    Subdivision 1. Limitation on homestead property tax. The property taxes payable
1.6on a homestead to any taxing jurisdiction must not exceed the lesser of (1) the maximum
1.7tax amount determined under subdivision 2, or (2) the amount otherwise provided by law
1.8without regard to the provisions of this chapter.
1.9    Subd. 2. Determination of maximum tax amount. The maximum tax amount is
1.10the amount of property taxes payable to the jurisdiction in the base year, but increased by
1.11any tax amounts attributable to (1) an increase after the base year in the market value due
1.12to any improvements made after the base year, or (2) voter-approved levies exceeding the
1.13amount attributable to voter-approved levies in the base year.
1.14EFFECTIVE DATE.This section is effective for taxes payable in 2009 and
1.15thereafter.

1.16    Sec. 30. [273.91] DEFINITIONS.
1.17    (a) For purposes of this chapter, the terms in this section have the meanings given
1.18them.
1.19    (b) "Base year" means 2008, or the first taxes payable year that the property became
1.20eligible for homestead classification, whichever is later.
1.21    (c) "Property taxes payable" means the net property taxes payable on the qualified
1.22homestead excluding special assessments, interest, and penalties, and before any refund
1.23under chapter 290A.
1.24    (d) "Homestead" means a property classified as 1a, 1b, or homestead 2a under
1.25section 273.13, subdivisions 22 and 23. In the case of an agricultural homestead,
2.1"homestead" means the house, garage, and surrounding one acre of land. The homestead
2.2may be part of a multidwelling building and the land on which it is built.
2.3EFFECTIVE DATE.This section is effective for taxes payable in 2009 and
2.4thereafter.

2.5    Sec. 31. [273.92] CALCULATION OF TAX, TAX RATE, AND LEVY BY
2.6COUNTY AUDITOR.
2.7    Subdivision.1. County auditor calculations. Each year, the county auditor shall
2.8determine the maximum homestead property tax amount for the property under section
2.9273.91. This is the amount that must be used for the notice of proposed property taxes
2.10under section 275.065, subdivision 3.
2.11    Subd. 2. Adjustment of tax rate and levy. (a) If requested by a taxing jurisdiction,
2.12the county auditor may estimate the total loss of revenue to the taxing jurisdiction for
2.13taxes levied in the current year under section 273.90 to 273.92 and adjust the tax rate
2.14accordingly. If the adjustment to the tax rate is made under this subdivision, in the
2.15following levy year the county auditor must adjust the levy of the taxing district to
2.16compensate for the amount of variance between the estimated and actual loss of revenues.
2.17    (b) If an adjustment is not made under paragraph (a), a taxing jurisdiction may
2.18increase its levy in the following year by the amount of any revenue loss under provisions
2.19of this chapter as certified by the county auditor.
2.20    (c) A levy adjustment under paragraph (a) or (b) is not subject to any levy limitations.
2.21EFFECTIVE DATE.This section is effective for taxes payable in 2009 and
2.22thereafter."
2.23Renumber the sections in sequence and correct the internal references
2.24Amend the title accordingly