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MN HF2758

Bill

Official Source

Status

Introduced

3/6/2014

Primary Sponsor

Jean Wagenius

Click for details

Origin

House of Representatives

88th Legislature 2013-2014

AI Summary

  • Adds an agricultural credit for class 2a property used for organic production, equal to $5 per acre of certified organic land or land in the three-year transition period to organic certification
  • Requires farmers to file an application with the county assessor by June 30 of the assessment year to qualify for the organic farming credit
  • Makes the organic farming credit available in addition to existing agricultural homestead credits under the same statute
  • Limits combined credits under both the agricultural homestead and organic farming provisions so they do not exceed total property tax payable on agricultural land
  • Effective beginning with taxes payable in 2015, with an extended application deadline of August 31, 2014 for the 2015 tax year only

Legislative Description

Agricultural property tax credit provided for property used for organic farming.

Last Action

Referred by Chair to Property and Local Tax Division

3/11/2014

Committee Referrals

Property and Local Tax3/11/2014
Taxes3/6/2014

Full Bill Text

No bill text available