.................... moves to amend H.F. No. 2367 as follows:
Delete everything after the enacting clause and insert:
"Section 1. TAX ABATEMENT; NEWLY-CONSTRUCTED RESIDENTIAL
1.4STRUCTURES IN FLOOD-DAMAGED CITIES.
1.5 Subdivision 1. Eligibility. (a) A residential structure qualifies for a tax abatement
1.6under this section, if:
1.7(1) the structure is located in a city that is eligible to designate a development zone
1.8under Minnesota Statutes, section 469.1731;
1.9(2) the structure is located in a county designated as an emergency area under
1.10presidential declaration FEMA-3304-EM;
1.11(3) the structure is located on property classified as class 1a, 1b, 2a, 4a, 4b, 4bb, or
1.124d under Minnesota Statutes, section 273.13;
1.13(4) no part of the structure was in existence prior to January 1, 2009; and
1.14(5) construction of the structure is commenced prior to December 31, 2010. For the
1.15purposes of this clause, construction is deemed to have been commenced if a proper
1.16building permit has been issued and the mandatory footing or foundation inspection has
1.18 Subd. 2. Application. Application for the abatement authorized under this section
1.19must be filed by January 2 of the year following the year in which construction began. The
1.20application must be filed with the assessor of the county in which the property is located
1.21on a form prescribed by the commissioner of revenue.
1.22 Subd. 3. Tax abated. (a) For a property qualifying under subdivision 1 and
1.23classified as either 1a, 1b, 2a, 4b, or 4bb, the tax attributable to (1) $150,000 of market
1.24value, or (2) the entire market value of the structure, whichever is less, shall be abated.
1.25For a property qualifying under subdivision 1 and classified as class 4a or 4d, the tax
2.1attributable to (1) $20,000 of market value per residential unit, or (2) the entire market
2.2value of the structure, whichever is less, shall be abated.
2.3(b) The abatement under paragraph (a) shall be in effect for two taxes payable years,
2.4corresponding to the two assessment years after construction has begun. The abatement
2.5shall not apply to any special assessments that have been levied against the property.
2.6 Subd. 4. Reimbursement. By May 1 of each taxes payable year in which an
2.7abatement has been authorized under this section, the auditor shall report the amount of
2.8taxes abated for each jurisdiction within the county to the commissioner of revenue, on a
2.9form prescribed by the commissioner. On or before September 1 of each taxes payable
2.10year in which an abatement has been authorized under this section, the commissioner of
2.11revenue shall reimburse each local jurisdiction for the amount of taxes abated for the
2.12year under this section.
2.13 Subd. 5. Appropriation. The amount necessary to make the reimbursements
2.14required under this section is annually appropriated to the commissioner of revenue from
2.15the general fund.
2.16EFFECTIVE DATE.This section is effective for assessment years 2010 to 2012,
2.17for taxes payable in 2011 to 2013.