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HF 1391

as introduced - 91st Legislature (2019 - 2020) Posted on 04/09/2019 10:56am

KEY: stricken = removed, old language.
underscored = added, new language.
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Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
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1.9

A bill for an act
 relating to taxation; property; modifying the school building bond agricultural
credit; amending Minnesota Statutes 2018, section 273.1387, subdivision 2.

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

Section 1.

Minnesota Statutes 2018, section 273.1387, subdivision 2, is amended to read:


Subd. 2.

Credit amount.

For each qualifying property, the school building bond
agricultural credit is equal to 40 100 percent of the property's eligible net tax capacity
multiplied by the school debt tax rate determined under section 275.08, subdivision 1b.

EFFECTIVE DATE.

This section is effective for property taxes payable in 2020.