MN SF1197

Creates new "seasonal tax base replacement aid" for school districts with significant seasonal/recreational property (class 4c(12) properties like cabins and resorts), providing state aid to offset reduced local tax capacity from these properties

Calculates aid based on the ratio of seasonal property market value to total referendum market value, with the adjustment factor capped between 0.5 and 1.0

Adds the new seasonal tax base replacement aid to the general education aid formula under Minnesota Statutes section 126C.13, subdivision 4

Reduces affected districts' referendum levies by the calculated aid amount, shifting funding burden from local property taxes to state general fund appropriations

Effective for taxes payable in 2026 and revenue in fiscal year 2027 and later; appropriation amounts left blank pending fiscal analysis