MN SF3269

Repeals changes to the green acres program and agricultural land classifications made in 2008 and 2009, restoring provisions from Minnesota Statutes 2006 effective for assessment year 2010 and taxes payable in 2011.

Allows land removed from the Minnesota Agricultural Property Tax Law between May 21, 2008 and the bill's effective date to be reinstated upon owner request if eligibility requirements are met, with counties required to repay any additional taxes paid during the removal period.

Modifies the definition of "agricultural land" to clarify property classifications (class 2a, 2b, 2c, and 2d) and establishes tax deferment eligibility requirements for qualifying agricultural properties of at least 10 acres.

Establishes a three-year grace period for land that no longer qualifies for agricultural tax deferment due to changed use, with graduated repayment of deferred taxes based on when the property is sold during that period.

Revises qualification requirements for family farm entities and corporate ownership while maintaining special assessment deferral provisions for properties enrolled in conservation programs.