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MN SF637
Bill
Status
Introduced
1/25/2023
Primary Sponsor
Jen McEwen
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AI Summary
- Exempts elderly living facilities from property taxation if located in a city of the first class with fewer than 110,000 residents.
- Facility must be owned and operated by a nonprofit organization organized under Internal Revenue Code section 501(c)(3).
- Facility must be an assisted living facility licensed by Minnesota and have construction completed between January 1, 1963, and January 1, 1964.
- Residents must be at least 55 years of age or disabled, and at least 30 percent of units must be occupied by persons earning no more than 50 percent of the area's median family income.
- Exemption is effective beginning with assessment year 2024 and thereafter.
Legislative Description
Certain property exemption from taxation
Last Action
Referred to Taxes
1/25/2023
Committee Referrals
Taxes1/25/2023
Full Bill Text
No bill text available