Amendment JR1 AA127-AB11

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January 2011 Special Session

2011 - 2012 LEGISLATURE

ASSEMBLY AMENDMENT 127, TO ASSEMBLY BILL 11

February 22, 2011 - Offered by Representatives Danou and Bernard Schaber.

AB11-AA127,1,1 At the locations indicated, amend the bill as follows:

AB11-AA127,1,4 1. Page 24, line 22: delete that line and substitute: "credit the net proceeds or the remaining net proceeds to the appropriation under s. 20.855 (4) (gb) to the extent needed, and thereafter to the budget stabilization fund.".

AB11-AA127,1,5 2. Page 29, line 11: after that line insert:

AB11-AA127,1,6 " Section 56m. 20.855 (4) (c) of the statutes is amended to read:

AB11-AA127,1,10 20.855 (4) (c) Minnesota income tax reciprocity. A sum sufficient to pay to the state of Minnesota, after any payments are made under par. (gb), any losses of income taxes occurring because of income tax reciprocity between this state and Minnesota and any interest payments due under s. 71.10 (7).

AB11-AA127, s. 56p Section 56p. 20.855 (4) (gb) of the statutes is created to read:

AB11-AA127,2,3 20.855 (4) (gb) Minnesota income tax reciprocity. All moneys credited to this account under s. 16.896 (3) from sales of state-owned heating, cooling, and power plants under s. 16.896 to be used to pay to the state of Minnesota any losses of income taxes occurring because of income tax reciprocity between this state and Minnesota and any interest payments due under s. 71.10 (7).".

AB11-AA127,2,4 (End)