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S.F. No. 399 - Modification of Distribution of Minerals Management Account
 
Author: Senator David J. Tomassoni
 
Prepared By: Carlon D. Fontaine, Senate Counsel (651/296-4395)
 
Date: March 15, 2011


 

S.F. No. 399 modifies the distribution of the balance in the minerals management account when the account balance exceeds $3,000,000.

Section 1 [Minerals management account) provides that on June 30 each year, the amount exceeding $3,000,000 in the minerals management account must, in addition to distribution to the permanent school fund and the permanent university fund, be distributed to the counties’ forfeited tax sale funds. Modifies the proportional distribution to each fund for the total mineral lease revenue received in the previous biennium to include tax-forfeited lands held in trust for each respective county. 

CDF/syl
 
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