HF 5285

as introduced - 93rd Legislature (2023 - 2024) Posted on 04/04/2024 02:52pm

A bill for an act
relating to taxation; property; requiring a study of and report on state property tax
programs that benefit farmers and other owners of agricultural land.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin STUDY AND REPORT REQUIRED; AGRICULTURAL PROPERTY
TAXES.
new text end

new text begin No later than February 1, 2025, the commissioner of revenue must complete a study and
submit a report on all state property tax programs that benefit farmers and other owners of
agricultural land relative to other taxpayers and property classes. The study and report must
include but are not limited to an examination of the benefits provided via green acres
valuation, school levies, property tax credits, and the classification and taxation of agricultural
land and homesteads. The commissioner must submit the report to the legislative committees
with jurisdiction over taxes and agriculture. The report must comply with Minnesota Statutes,
sections 3.195 and 3.197.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end