1.1 	A bill for an act
1.2 	relating to taxation; property; modifying the content of property tax statements for 
1.3 	properties subject to the Iron Range fiscal disparities tax;amending Minnesota Statutes 2022, sections 275.065, by adding a subdivision; 276.04, by adding a subdivision.1.6 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.7 	Section 1. Minnesota Statutes 2022, section 275.065, is amended by adding a subdivision 
1.8 	to read:
1.9 		Subd. 3c.Notice of proposed taxes; property subject to chapter 276A. In the case of 
1.10 	property subject to the areawide tax under section 276A.06, subdivision 7, for both the 
1.11 	current year taxes and the proposed tax amounts, the net tax capacity portion of the taxes 
1.12 	shown for each taxing jurisdiction must be based on the property's total net tax capacity 
1.13 	multiplied by the jurisdiction's actual or proposed net tax capacity tax rate. In addition to 
1.14 	the tax amounts shown for each jurisdiction, the statement must include a line showing the 
1.15 	"fiscal disparities adjustment" equal to the total gross tax payable minus the sum of the tax 
1.16 	amounts shown for the individual taxing jurisdictions. The fiscal disparities adjustment may 
1.17 	be a negative number. If the fiscal disparities adjustment for either the current year taxes 
1.18 	or the proposed tax amount is a negative number, the percentage change must not be shown. 
1.19 	In all other respects the statement must fulfill the requirements of subdivision 3.

1.20 	EFFECTIVE DATE. This section is effective beginning with proposed notices for 
1.21 	taxes payable in 2024.

2.1 	Sec. 2. Minnesota Statutes 2022, section 276.04, is amended by adding a subdivision to 
2.2 	read:
2.3 		Subd. 2a.Contents of tax statements; property subject to chapter 276A. In the case 
2.4 	of property subject to the areawide tax under section 276A.06, subdivision 7, for both the 
2.5 	current year taxes and the previous year tax amounts, the net tax capacity portion of the tax 
2.6 	shown for each taxing jurisdiction must be based on the property's total net tax capacity 
2.7 	multiplied by the jurisdiction's net tax capacity tax rate. In addition to the tax amounts shown 
2.8 	for each jurisdiction, the statement must include a line showing the "fiscal disparities 
2.9 	adjustment" equal to the total gross tax payable minus the sum of the tax amounts shown 
2.10 	for the individual taxing jurisdictions for each year. The fiscal disparities adjustment may 
2.11 	be a negative number. In all other respects the statement must fulfill the requirements of 
2.12 	subdivision 2.

2.13 	EFFECTIVE DATE. This section is effective beginning with taxes payable in 2024.