as introduced - 92nd Legislature (2021 - 2022) Posted on 03/26/2021 09:37am
A bill for an act
relating to taxation; property; exempting community art space property; amending
Minnesota Statutes 2020, section 272.02, by adding a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2020, section 272.02, is amended by adding a subdivision
to read:
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Real and personal property is exempt if it
is owned and operated by a private, nonprofit organization that is exempt from federal
income taxation under section 501(c)(3) of the Internal Revenue Code and primarily used
as a community art space. For purposes of this subdivision, "community art space" means
a facility offering art studio and gallery space, as well as rooms for public and community
meetings and events, located in a city of the second class in Dakota County with a population
of more than 62,000.
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This section is effective for assessment year 2021 and thereafter.
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