A Bill for An Act, HF 116, Extra Session 1961 - Draft

              copy of 22m!lfl containing a proposed amendment to the constitution of the state of minnesota regarding t aconite ajbill foe an act to nm si adding ,; le relating to taxis imposed upon or required to be paib with respect to tee mining production or benepiciation of taconite or semi-taconite in this state be it enacted by the legislature of the stats of minnesota section 1 an amendment to the constitution of the state minnesota y**^dding thereto a new article relating tp*???é¼%txes imposed upon or required to be p xu will mv,:^,cj tp**t1se mining production or benef iciat ion of taconite or sem^ttcbuit^e is hereby proposed to the people of the state of minnesota for their approval w rejection which amendmejg^^if adopted shall be knows as'varticle xxi of tlte of the state of minnesota which proposed amendment reads as follows the combined occupations royalty and excise taxes inposed upon or required to be paid with respect to the mining production s or benef iciation of t aconite or semi-taconite by any person or corporation engaged in such kiining production or heneficiation shall not be increased so as to exceed the-greater of a the amount which would be payable if sucb taxes were computed under the laws in existence as of january 1 196l or h the amount which would fee payable if such person or corporation were taxed with respect to such mining production or beneficiation under the income franchise bnd excise tax laws generally applicable to manufacturing corporations transacting business within the