This bill proposes an amendment to Minnesota Statutes 2024, Section 272.01, Subdivision 2, regarding property taxation. Specifically, it addresses property that is normally tax-exempt but is leased, loaned, or otherwise made available to private individuals, associations, or corporations for profit-driven use.

Key Provisions:

1. When tax-exempt property is used for profit by a private entity, it becomes subject to taxation, similar to if the lessee or user were the owner.
2. Exemptions from this tax include:
   • Property used as concessions in public parks, markets, fairgrounds, port authorities, economic development authorities, municipal auditoriums, parking facilities, museums, and stadiums.
   • Certain airport properties owned by a local government, except for airports operated by the Metropolitan Airports Commission or large cities (over 50,000 population).
   • Public pedestrian ramps, concourses, passenger check-in areas, ticket counters, boarding areas, and luggage claim areas in public airports (except large airports).
   • Municipal airport real estate leased for agricultural use (not exempt).
   • Property under a cooperative farming agreement or leased under Section 272.68, Subd. 4.
   • Nonprofit conservation organization land leased for grazing activities that align with conservation objectives.
3. Taxation Process:
   • Taxes are assessed like personal property taxes but do not become a lien against the property.
   • The lessee or user is responsible for paying the taxes, which become a debt to the state and local government entities.
   • If multiple parties lease or use the property, they are jointly and severally liable for the tax.

Overall Purpose:

The bill clarifies tax regulations for leased tax-exempt properties while providing specific exemptions for certain uses. The goal is to ensure fair taxation when private entities use public property for profit, while maintaining exemptions for public-benefit activities.