HF 259

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/11/2023 04:03pm

A bill for an act
relating to taxation; property; exempting certain property from taxation; amending
Minnesota Statutes 2022, section 272.02, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2022, section 272.02, is amended by adding a subdivision
to read:

new text begin Subd. 105. new text end

new text begin Elderly living facility. new text end

new text begin An elderly living facility is exempt from taxation if
it meets all of the following requirements:
new text end

new text begin (1) the facility is located in a city of the first class with a population of fewer than
110,000;
new text end

new text begin (2) the facility is owned and operated by a nonprofit organization organized under section
501(c)(3) of the Internal Revenue Code;
new text end

new text begin (3) construction of the facility was completed between January 1, 1963, and January 1,
1964;
new text end

new text begin (4) the facility is an assisted living facility licensed by the state of Minnesota;
new text end

new text begin (5) residents of the facility must be (i) at least 55 years of age, or (ii) disabled; and
new text end

new text begin (6) at least 30 percent of the units in the facility are occupied by persons whose annual
income does not exceed 50 percent of the median family income for the area.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective beginning with assessment year 2024
and thereafter.
new text end