MN SF1552

Establishes a new agricultural riparian buffer credit for Class 2a and 2b agricultural property containing riparian buffers certified by local soil and water conservation districts, effective for taxes payable in 2024.

Credits equal the net tax capacity based property tax attributable to the riparian buffer portion of eligible property.

County auditors determine tax reductions and certify amounts to the Commissioner of Revenue; commissioner reimburses non-school taxing jurisdictions in two equal installments on October 31 and December 26, with school district reimbursements paid through the Department of Education.

Appropriates an amount sufficient from the general fund to the Commissioner of Revenue for non-school district reimbursements and to the Commissioner of Education for school district reimbursements, with no specified limit amount.

Amends property tax notice and statement requirements to separately list the agricultural riparian buffer credit for taxpayer information, effective for taxes payable in 2024.