1.1.................... moves to amend H.F. No. 337 as follows:
1.2Page 4, after line 3, insert:

1.3    "Sec. 5. Minnesota Statutes 2010, section 469.177, subdivision 9, is amended to read:
1.4    Subd. 9. Distributions of excess taxes on captured net tax capacity. (a) If the
1.5amount of tax paid on captured net tax capacity exceeds the amount of tax increment, the
1.6county auditor shall distribute the excess to the municipality, county, and school district as
1.7follows: each governmental unit's share of the excess equals
1.8(1) the total amount of the excess for the tax increment financing district, multiplied
1.10(2) a fraction, the numerator of which is the current local tax rate of the governmental
1.11unit less the governmental unit's local tax rate for the year the original local tax rate for the
1.12district was certified (in no case may this amount be less than zero) and the denominator
1.13of which is the sum of the numerators for the municipality, county, and school district.
1.14If the entire increase in the local tax rate is attributable to a taxing district, other than
1.15the municipality, county, or school district, then the excess must be distributed to the
1.16municipality, county, and school district in proportion to their respective local tax rates.
1.17(b) The amounts distributed shall be deducted in computing the levy limits of the
1.18taxing district for the succeeding taxable year.
1.19(c) In the case of distributions to a school district, the county auditor shall report
1.20amounts distributed to the commissioner of education in the same manner as provided
1.21for excess increments under section 469.176, subdivision 2, and the distribution shall be
1.22deducted from the school district's state aid payments and levy limitation according to
1.23section 127A.49, subdivision 3.
1.24(d) For a tax increment financing district subject to the provisions of subdivision 1a,
1.25paragraph (b), the county auditor shall deduct the amount of the increment attributable
1.26to the county's tax rate before calculating the amount of the distributions, if any, under
1.27paragraph (a). That increment and the county's tax rates must be excluded from paragraph
2.1(a) calculations. The county treasurer shall distribute the increment attributable to the
2.2county tax rate to the county.
2.3EFFECTIVE DATE.This section is effective for tax increment financing districts
2.4for which the request for certification is made after June 30, 2011."
2.5Renumber the sections in sequence and correct the internal references
2.6Amend the title accordingly