MN HF4412

Amends Minnesota Statutes section 477A.12, subdivision 1, regarding payment-in-lieu of taxation for natural resources land.

Limits the valuation reduction for acquired natural resources land by establishing that the appraised value shall not be reduced below the 2010 appraised value for the land.

Maintains the $5.133 per-acre payment option or three-fourths of one percent of appraised value (whichever is greater) for acquired natural resources land, transportation wetland, wildlife management land, and land utilization project land.

Effective beginning with aids payable in 2018, with the commissioner of natural resources required to recertify amounts to the commissioner of revenue by June 15, 2018.