SF 2615

Introduction - 94th Legislature (2025 - 2026)

Posted on 03/18/2025 09:37 a.m.

A bill for an act
relating to taxation; property; providing a property tax exemption for an electric
generation facility; amending Minnesota Statutes 2024, section 272.02, by adding
a subdivision.

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

Section 1.

Minnesota Statutes 2024, section 272.02, is amended by adding a subdivision
to read:

new text begin Subd. 106. new text end

new text begin Electric generation facility; personal property. new text end

new text begin (a) Notwithstanding
subdivision 9, clause (a), attached machinery and other personal property that are part of
an electric generation facility with more than 40 megawatts and less than 50 megawatts of
installed capacity and that meet the requirements of this subdivision are exempt from taxation
and payments in lieu of taxation. The facility must:
new text end

new text begin (1) be designed to utilize natural gas as a primary fuel;
new text end

new text begin (2) be owned and operated by a municipal power agency as defined in section 453.52,
subdivision 8;
new text end

new text begin (3) be located within 1,000 feet of an existing natural gas pipeline;
new text end

new text begin (4) satisfy a resource deficiency identified in an integrated resource plan filed under
section 216B.2422;
new text end

new text begin (5) be located outside of the metropolitan area as defined in section 473.121, subdivision
2; and
new text end

new text begin (6) have received, by resolution, the approval of the governing bodies of the city and
county in which the facility is located for the exemption of personal property provided in
this subdivision.
new text end

new text begin (b) Construction of the facility must have commenced after January 1, 2026, and before
January 1, 2028. Property eligible for this exemption does not include electric transmission
lines and interconnections or gas pipelines and interconnections appurtenant to the property
or the facility.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective beginning with property taxes payable
in 2029.
new text end