SF 4216
Introduction - 94th Legislature (2025 - 2026)
Posted on 03/10/2026 09:22 a.m.
1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16
1.17 1.18
1.19 1.20 1.21 1.22 2.1 2.2
2.3 2.4
A bill for an act
relating to taxation; exempting certain tenants from personal property taxation;
amending Minnesota Statutes 2024, section 273.19, subdivision 1, by adding a
subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 273.19, subdivision 1, is amended to read:
Subdivision 1.
Tax-exempt property; lease.
Except as provided in subdivisionnew text begin 1b,new text end 3new text begin ,new text end
or 4, tax-exempt property held under a lease for a term of at least one year, and not taxable
under section 272.01, subdivision 2, or under a contract for the purchase thereof, shall be
considered, for all purposes of taxation, as the property of the person holding it. In this
subdivision, "tax-exempt property" means property owned by the United States, the state
or any of its political subdivisions, a school, or any religious, scientific, or benevolent society
or institution, incorporated or unincorporated, or any corporation whose property is not
taxed in the same manner as other property. This subdivision does not apply to property
exempt from taxation under section 272.01, subdivision 2, paragraph (b), clauses (2), (3),
and (4), or to property exempt from taxation under section 272.0213.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective beginning with assessment year 2026
and thereafter.
new text end
Sec. 2.
Minnesota Statutes 2024, section 273.19, is amended by adding a subdivision to
read:
new text begin Subd. 1b. new text end
new text begin Lessees in affordable housing. new text end
new text begin
Property of an institution of purely public
charity with a purpose of providing housing for low-income individuals, which qualifies
for a property tax exemption, that is held under lease by a lessee, is not the property of the
lessee for all purposes of taxation.
new text end
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective beginning with assessment year 2026
and thereafter.
new text end