MN SF3987

Amends Minnesota Statutes section 477A.12, subdivision 1, to limit valuation reductions for acquired natural resources land in payment-in-lieu of taxation calculations.

Requires that the appraised value of all acquired natural resources land in a county shall not be reduced below the 2010 appraised value for the land.

Maintains the existing calculation method where counties can choose between $5.133 per acre or three-fourths of one percent of appraised value, whichever is greater.

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.