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Iron Range Property Tax Revenue Does Not Belong In General Fund

by keewatinrose on March 22, 2011

A bill slated for a hearing late Tuesday proposes to rob the Iron Range of a source of much needed economic development money for the region. Ironically, a provision of the Omnibus Jobs and Economic Development Act (HF 1049) would in fact divert $60 million in the Douglas J. Johnson Economic Protection Trust Fund to the state’s general fund.

The Economic Protection Trust Fund is funded by a portion of the taconite tax. This is not ‘special bonus money’, but rather a tax on taconite production levied on iron mining companies in lieu of property taxes.  Therefore, it belongs to us, the people of the Iron Range, and does not belong in the state’s general fund.

This perennial assault on our taconite tax revenue is getting old.

Perhaps the Iron Range delegation should introduce a bill that will divert a significant amount of property tax revenue collected by the metro-area counties to the state’s general fund.

Maybe then they’ll get the point

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