HF 1954

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to taxation; property; exempting certain
qualifying property used for educational instruction.

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

Section 1. new text begin PROPERTY USED FOR EDUCATIONAL INSTRUCTION.
new text end

new text begin Notwithstanding Minnesota Statutes, section 272.02,
subdivision 38, paragraph (b), the following property is exempt
from taxation for assessment year 2004, for taxes payable in
2005, if it meets all the following criteria:
new text end

new text begin (1) is used to provide direct educational instruction for
grades 7 through 12;
new text end

new text begin (2) is located in a city of the first class that has a
population greater than 250,000 and less than 350,000;
new text end

new text begin (3) was purchased after July 1, 2004, by a nonprofit that
is exempt from federal income tax under section 501(c)(3) of the
Internal Revenue Code; and
new text end

new text begin (4) is leased and operated by two nonprofit corporations
organized under Minnesota Statutes, chapter 317A.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day
following final enactment.
new text end