MN HF4063

Establishes state general levy amounts of $784,590,000 for commercial-industrial property and $44,190,000 for seasonal-recreational property for taxes payable in 2018 and thereafter.

Authorizes the commissioner to adjust preliminary or final tax rates to account for errors and tax base changes from the prior two years, but only if adjustments exceed $100,000.

Requires annual reduction of the commercial-industrial levy by the amount of state general tax that would be paid by intrastate natural gas pipeline property if not exempt.

Exempts personal property that is part of an intrastate natural gas transportation or distribution pipeline system from the state general tax if construction began after January 1, 2018, and the property is located outside the seven-county metropolitan area in regions lacking natural gas distribution systems as of January 1, 2018.

Limits the natural gas pipeline exemption to a maximum of 12 years, with ineligible properties permanently barred from future qualification under this exemption.