MN SF697

Increases payment rates for county-administered and commissioner-administered other natural resources land from $2 to $3 per acre, effective for aids payable in 2024.

Modifies appraisal valuation for acquired natural resources land to not decrease below the most recent appraised value, maintaining a floor for valuation purposes.

Establishes annual adjustment mechanism for payment amounts based on percentage changes in the index, with initial 2025 adjustment based on the 12-month period ending August 31, 2024.

Requires commissioner of revenue to produce a report by January 31, 2024, on valuation methods for state-owned lakeshore acreage and shoreline areas, with data aggregated by county and parcel type.

Applies all changes beginning with aids payable in 2024, except the study requirement which takes effect immediately upon enactment.