2015 Minnesota Statutes
Chapters 296 - 299 — EXCISE AND SALES TAXES
Chapter 297E — GAMBLING TAXES
Section 297E.021 — SPECIAL ALLOCATION OF REVENUES.
Subdivision 1. Application; revenues not pledged. The provisions of this subdivision apply only after the issuance of appropriation bonds under section 16A.965, subdivision 2, but do not constitute a pledge of available revenues as security for payment of principal and interest on appropriation bonds issued under section 16A.965.
Subd. 2. Determination of revenue increase. By March 15 of each fiscal year, the commissioner of management and budget, in consultation with the commissioner, shall determine the estimated increase in revenues received from taxes imposed under this chapter over the estimated revenues under the February 2012 state budget forecast for that fiscal year. For fiscal years after fiscal year 2015, the commissioner of management and budget shall use the February 2012 state budget forecast for fiscal year 2015 as the baseline. All calculations under this subdivision must be made net of estimated refunds of the taxes required to be paid.
Subd. 3. Available revenues. For purposes of this section, "available revenues" equals the amount determined under subdivision 2, plus up to $20,000,000 each fiscal year from the taxes imposed under section 290.06, subdivision 1:
(1) reduced by the following amounts paid for the fiscal year under:
(i) the appropriation to principal and interest on appropriation bonds under section 16A.965, subdivision 8;
(ii) the appropriation from the general fund to make operating expense payments under section 473J.13, subdivision 2, paragraph (b);
(iii) the appropriation for contributions to the capital reserve fund under section 473J.13, subdivision 4, paragraph (c);
(iv) the appropriations under Laws 2012, chapter 299, article 4, for administration and any successor appropriation;
(v) the reduction in revenues resulting from the sales tax exemptions under section 297A.71, subdivision 43;
(vi) reimbursements authorized by section 473J.15, subdivision 2, paragraph (d);
(vii) the compulsive gambling appropriations under section 297E.02, subdivision 3, paragraph (c), and any successor appropriation; and
(viii) the appropriation for the city of St. Paul under section 16A.726, paragraph (c); and
(2) increased by the revenue deposited in the general fund under section 297A.994, subdivision 4, clauses (1) to (3), for the fiscal year.
Subd. 4. Appropriation; general reserve account. To the extent the commissioner determines that revenues are available under subdivision 3 for the fiscal year, those amounts are appropriated from the general fund for deposit in a general reserve account established by order of the commissioner of management and budget. Amounts in this reserve are appropriated as necessary for application against any shortfall in the amounts deposited to the general fund under section 297A.994 or, after consultation with the Legislative Commission on Planning and Fiscal Policy, amounts in this reserve are appropriated to the commissioner of management and budget for other uses related to the stadium authorized under section 473J.03, subdivision 8, that the commissioner deems financially prudent including but not limited to reimbursements for capital and operating costs relating to the stadium, refundings, and prepayment of debt. In no event, shall available revenues be pledged, nor shall the appropriations of available revenues made by this section constitute a pledge of available revenues as security for the prepayment of principal and interest on the appropriation bonds under section 16A.965.History:
2012 c 299 art 4 s 11; 2013 c 125 art 1 s 61; 2013 c 143 art 13 s 9
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