MN SF53

Department of Revenue must produce a report within 90 days of large judgments and court-stipulated settlements totaling $50,000 or greater concerning utility and railroad property, including staff qualifications, corrective actions taken, and full cost accounting of all defense costs.

Department of Revenue must produce an annual report by January 20 each year on all tax appeals it is party to, listing resolved cases, active cases, causes of action with amounts in dispute, and staff costs for each case.

State must pay judgment refunds to petitioners who win property tax cases against state-assessed property, with petitioners able to elect either application to next year's estimated tax liability or refund within 30 days.

Taxpayers may claim a tax credit against state income tax equal to the judgment amount received under property tax cases, with excess amounts refunded to the taxpayer.

Appropriates necessary funds from a general reserve account in section 297E.021 to pay refunds and judgments under the property tax judgment provisions, effective retroactively for judgments entered on or after January 1, 2021.