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HF 4778

as introduced - 92nd Legislature (2021 - 2022) Posted on 04/07/2022 11:33am

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 04/07/2022

Current Version - as introduced

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A bill for an act
relating to taxation; property; reducing the state general levy for
commercial-industrial properties; amending Minnesota Statutes 2021 Supplement,
section 275.025, subdivision 1.

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

Section 1.

Minnesota Statutes 2021 Supplement, section 275.025, subdivision 1, is amended
to read:


Subdivision 1.

Levy amount.

The state general levy is levied against
commercial-industrial property and seasonal residential recreational property, as defined
in this section. The state general levy for commercial-industrial property is deleted text begin $716,990,000deleted text end new text begin
$616,990,000
new text end for taxes payable in 2023 and thereafter. The state general levy for
seasonal-recreational property is $41,690,000 for taxes payable in 2020 and thereafter. The
tax under this section is not treated as a local tax rate under section 469.177 and is not the
levy of a governmental unit under chapters 276A and 473F.

The commissioner shall increase or decrease the preliminary or final rate for a year as
necessary to account for errors and tax base changes that affected a preliminary or final rate
for either of the two preceding years. Adjustments are allowed to the extent that the necessary
information is available to the commissioner at the time the rates for a year must be certified,
and for the following reasons:

(1) an erroneous report of taxable value by a local official;

(2) an erroneous calculation by the commissioner; and

(3) an increase or decrease in taxable value for commercial-industrial or seasonal
residential recreational property reported to the commissioner under section 270C.85,
subdivision 2, clause (4), for the same year.

The commissioner may, but need not, make adjustments if the total difference in the tax
levied for the year would be less than $100,000.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective beginning with taxes payable in 2023.
new text end