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MN SF2929

Bill

Official Source

Status

Introduced

3/15/2023

Primary Sponsor

Steve Drazkowski

Click for details

Origin

Senate

93rd Legislature 2023-2024

AI Summary

  • Increases the school building bond agricultural credit percent for property taxes payable in 2024 and thereafter from 70 percent to 100 percent
  • Credit calculation remains equal to the credit percent multiplied by the property's eligible net tax capacity multiplied by the school debt tax rate
  • Maintains previous credit percentages for earlier tax years: 40 percent (pre-2020), 50 percent (2020), 55 percent (2021), 60 percent (2022), and 70 percent (2023)
  • Effective beginning with taxes payable in 2024
  • Applies to Minnesota Statutes 2022, section 273.1387, subdivision 2

Legislative Description

School building bond agricultural property tax credit increase

Last Action

Referred to Taxes

3/15/2023

Committee Referrals

Taxes3/15/2023

Full Bill Text

No bill text available