MN SF4995

Establishes a new "seasonal tax base replacement aid" program for Minnesota school districts, calculated as a product of one minus the seasonal tax base adjustment factor and 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, with a floor of 0.5 and ceiling of 1.0.

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

The calculated aid amount reduces the district's referendum levy after other adjustments, but the levy cannot fall below zero as a result of this reduction.

Provision is effective for taxes payable in 2025 and later.