MN HF3464

Creates a riparian buffer tax credit allowing landowners with riparian buffer land classified under section 273.13, subdivision 23, and not enrolled in income-generating conservation programs to receive a 100 percent credit on net taxes payable.

Requires landowners to file an application with the assessor by April 1 (or through June 30, 2016, for 2017 taxes) and submit an affidavit every three years verifying buffer maintenance under section 103F.48 requirements.

Prohibits assessors from reducing land valuations due to riparian buffer restrictions imposed under section 103F.48.

Directs county auditors to certify tax reductions to the commissioner of revenue, who reimburses non-school taxing jurisdictions in two equal installments on October 31 and December 26, with school district reimbursements handled through the commissioner of education.

Appropriates funds annually from the general fund to reimburse taxing jurisdictions, effective for taxes payable in 2017 for public water buffers and 2018 for other qualifying buffer land.