MN HF4986

Establishes a new "seasonal tax base replacement aid" program for Minnesota school districts, calculated as a product of (1) one minus the seasonal tax base adjustment factor and (2) the district's referendum equalization levy.

Defines the seasonal tax base adjustment factor as the ratio of referendum market value to the sum of referendum market value and seasonal market value, capped between 0.5 and 1.0.

Seasonal market value is defined as the market value of all taxable property classified as class 4c(12) under section 273.13.

The calculated aid amount reduces a district's referendum levy (after other adjustments) but cannot reduce the levy below zero.

Effective for taxes payable in 2025 and later.