MN SF3960

Creates a new property tax credit of $50 per acre for landowners who converted tillable land to riparian buffers between 2015 and 2019 to comply with Minnesota water quality standards under section 103F.48.

Requires eligible landowners to file applications with county auditors identifying the buffer land, with an April 1 deadline for the credit to take effect the following year (extended deadline of June 15, 2018 for taxes payable in 2019).

Establishes coordination requirements between county auditors, soil and water conservation districts, the Board of Water and Soil Resources, and local water management authorities to verify eligibility and monitor for enforcement actions.

Appropriates sufficient funds annually from the clean water fund to the commissioner of revenue and commissioner of education to reimburse local taxing jurisdictions for tax reductions granted under this program, with payments issued on October 31 and December 26.

Adds the riparian buffer credit to the computation of net property taxes in the statutory order of property tax credits, effective for taxes payable in 2019.