MN SF3118

Allows real estate that lost Green Acres tax deferment eligibility in 2009 due to changed qualification requirements to continue qualifying until the land is sold, transferred, subdivided, or the 2013 assessment year, whichever is earlier, if it meets 2006 requirements

Permits land transferred to a son or daughter of the owner to continue Green Acres treatment as long as it meets 2006 requirements, but no later than the 2013 assessment

Allows land transferred from a family farm limited liability company upon termination to a son or daughter of an individual with ownership interest in the company to continue Green Acres treatment under the same conditions

Exempts property removed from the program and enrolled in the rural preserve property tax law program (section 273.114) from additional taxes otherwise required upon withdrawal

Provision is effective for taxes payable in 2011 and thereafter