SF 4064

as introduced - 90th Legislature (2017 - 2018) Posted on 05/08/2018 08:56am

A bill for an act
relating to taxation; property; providing a property tax exemption for certain
property.

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

Section 1. new text begin NICOLLET ISLAND PAVILION PROPERTY TAX EXEMPTION;
SPECIAL ASSESSMENT.
new text end

new text begin Any real or personal property acquired, owned, leased, controlled, used, or occupied on
or before January 1, 2018, by the city of Minneapolis or the Minneapolis Park and Recreation
Board for the primary purpose of providing a venue for public and private gatherings on
Nicollet Island is declared to be acquired, owned, leased, controlled, used, and occupied
for public, governmental, and municipal purposes, and is exempt from ad valorem taxation
by the state or any political subdivision of the state, provided that the property is subject to
special assessments levied by a political subdivision for a local improvement in amounts
proportionate to and not exceeding the special benefit received by the property from the
improvement. In determining the special benefit received by the property, no possible use
of the property in any manner different from the intended use of providing a venue for public
and private gatherings may be considered. Notwithstanding Minnesota Statutes, section
272.01, subdivision 2, or 273.19, real or personal property subject to a lease or use agreement
between the city or the Minneapolis Park and Recreation Board and another person for uses
related to the purpose of the operation of the venue is exempt from taxation regardless of
the length of the lease or use agreement. This section, insofar as it provides an exemption
or special treatment, does not apply to any real property that is leased for residential, business,
or commercial development or other purposes different from those necessary to the provision
and operation of the venue.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective beginning with taxes payable in 2019
upon approval by the city of Minneapolis and compliance with Minnesota Statutes, section
645.021.
new text end