1.1 	A bill for an act
1.2 	relating to taxation; property; allowing valuation reductions on certain property 
1.3 	with conservation restrictions or easements; making technical corrections;amending 
1.4 	Minnesota Statutes 2024, section 273.117.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2024, section 273.117, is amended to read:
1.7 	273.117 CONSERVATION PROPERTY TAX VALUATION.
1.8 	(a) The value of real property which that is subject to a conservation restriction or 
1.9 	easement shall must not be reduced by the assessor if:
1.10 	(a) (1) the restriction or easement is for a conservation purpose and is recorded on the 
1.11 	property; and
1.12 	(b) (2) the property is being used in accordance with the terms of the conservation 
1.13 	restriction or easement.
1.14 	(b) This section does not apply to:
1.15 	(1) conservation restrictions or easements covering riparian buffers along lakes, rivers, 
1.16 	and streams that are used for water quantity or quality control;
1.17 	(2) easements in a county that has adopted, by referendum, a program to protect farmland 
1.18 	and natural areas since 1999;
1.19 	(3) conservation restrictions or easements in metropolitan counties;
2.1 	(4) conservation restrictions or easements in nonmetropolitan counties that have, by 
2.2 	resolution, authorized the assessor to consider the impact of conservation restrictions or 
2.3 	easements on the property's value; or
2.4 	(3) (5) conservation restrictions or easements entered into prior to May 23, 2013.

2.5 	EFFECTIVE DATE. This section is effective for assessment year 2026 and thereafter.