MN SF1551

Establishes a 50 percent property tax credit for licensed family day care and group family day care providers on their residential property (class 1a and applicable class 2a properties consisting of house, garage, and one acre of land).

Requires the Commissioner of Human Services to provide counties with lists of licensed child care providers by July 1, 2023, and each June 1 thereafter for credit verification.

Directs the Commissioner of Revenue to reimburse local taxing jurisdictions (except school districts) for tax reductions in two equal installments on October 31 and December 26; school district reimbursements flow through the Commissioner of Education.

Appropriates annually sufficient general fund amounts to the Commissioner of Revenue and Commissioner of Education to cover all tax credit reimbursements to their respective jurisdictions.

Makes the credit effective for taxes payable beginning in 2024 and amends related statutes to include the new credit in property tax computation formulas and tax statement requirements.