SF 4670
Introduction - 94th Legislature (2025 - 2026)
Posted on 03/24/2026 10:34 a.m.
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A bill for an act
relating to taxation; making certain school district lease levy amounts eligible for
the school building bond agricultural credit; amending Minnesota Statutes 2024,
section 275.07, subdivision 2.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 275.07, subdivision 2, is amended to read:
Subd. 2.
School district levies; special requirements.
(a) In school districts lying in
more than one county, the clerk shall certify the tax levied to the auditor of the county in
which the administrative offices of the school district are located.
(b) The district must identify the portion of the school district levy that is levied for debt
service at the time the levy is certified under this section. deleted text begin For the purposes of this paragraph,
"levied for debt service" meansdeleted text end new text begin The portion equals: (1) thenew text end levies authorized under sections
123B.53, 123B.535, and 123B.55, as adjusted by sections 126C.46 and 126C.48, net of any
debt excess levy reductions under section 475.61, subdivision 4, excluding debt service
amounts necessary for repayment of other postemployment benefits under section 475.52,
subdivision 6new text begin ; and (2) the levy authorized under section 126C.40 that is assessed and certified
by a cooperative unit to the district as the district's proportionate share attributable to debt
issued by the cooperative unitnew text end .
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective beginning with taxes payable in 2027
and thereafter.
new text end