1.1                          A bill for an act 
  1.2             relating to taxation; property; providing that 
  1.3             property owned by a nonprofit historical society is 
  1.4             exempt from taxation; amending Minnesota Statutes 
  1.5             2000, section 272.02, by adding a subdivision. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2000, section 272.02, is 
  1.8   amended by adding a subdivision to read: 
  1.9      Subd. 45.  [HISTORICAL SOCIETY PROPERTY.] Property is 
  1.10  exempt from taxation if it is owned by a nonprofit charitable 
  1.11  organization that: 
  1.12     (1) qualifies for tax exemption under section 501(c)(3) of 
  1.13  the Internal Revenue Code of 1986, as amended; and 
  1.14     (2) has as its primary purpose to function as a historical 
  1.15  society by acquiring, preserving, restoring, and exhibiting 
  1.16  artifacts and other items useful in providing an understanding 
  1.17  of local or regional history. 
  1.18     Sec. 2.  [EFFECTIVE DATE.] 
  1.19     Section 1 is effective for taxes levied in 2001, payable in 
  1.20  2002, and thereafter.