2005 Minnesota Statutes - 298.26 — Tax on unmined taconite and iron sulphides.

     298.26 Tax on unmined taconite and iron sulphides. 


    In any year in which at least 1,000 tons of iron ore 
 concentrate is not produced from any 40-acre tract or 
 governmental lot containing taconite or iron sulphides, a tax 
 may be assessed upon the taconite or iron sulphides therein at 
 the local tax rate prevailing in the taxing district and spread 
 against the net tax capacity of the taconite or iron sulphides, 
 such net tax capacity to be determined in accordance with 
 existing laws.  The amount of the tax spread under authority of 
 this section by reason of the taconite and iron sulphides in any 
 tract of land shall not exceed $15 per acre. 


    HIST: 1941 c 375 s 4; 1947 c 93 s 4; 1977 c 423 art 10 s 14; 
 1988 c 719 art 5 s 84; 1989 c 329 art 13 s 20; 1Sp1989 c 1 art 2 
 s 11; 1994 c 587 art 5 s 16