MN SF4241

Establishes a new agricultural water quality credit of $5 per certified acre for class 2a or 2b agricultural property located in Dodge, Fillmore, Goodhue, Houston, Mower, Olmsted, Wabasha, or Winona County that is certified under the Minnesota agricultural water quality certification program.

County auditors determine tax reductions allowed under the credit and certify amounts to the commissioner of revenue, with the commissioner of revenue reimbursing local taxing jurisdictions (other than school districts) in two equal installments on October 31 and December 26 of each taxes payable year.

Commissioner of education receives certification of school district reductions from the commissioner of revenue and pays reimbursement amounts to school districts according to existing procedures.

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 on an annual basis.

Adds the agricultural water quality credit to the list of property tax credits that must be subtracted in computing net property taxes and requires the credit to be separately displayed on property tax notices and statements, effective beginning with taxes payable in 2025.