SF2016 (Legislative Session 94 (2025-2026))
School building bond agricultural credit increase
AI Generated Summary
This bill proposes an amendment to Minnesota Statutes 2024, section 273.1387, subdivision 2, which pertains to the school building bond agricultural credit. The amendment seeks to increase the credit amount from 70% to 100% of a qualifying property's eligible net tax capacity, multiplied by the school debt tax rate as determined under section 275.08, subdivision 1b.
If enacted, this change would provide full relief for eligible agricultural property owners from the portion of their property taxes attributable to school building bond levies.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 27, 2025 | Senate | Floor | Action | Introduction and first reading | |
| February 27, 2025 | Senate | Floor | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"Increases the credit amount to 100 percent of the property's eligible net tax capacity."
],
"removed": [
""
],
"summary": "This bill amends the school building bond agricultural credit under section 273.1387 subdivision 2.",
"modified": [
"Increases the percentage of the school building bond agricultural credit from 70% to 100%."
]
},
"citation": "273.1387",
"subdivision": "subdivision 2"
},
{
"analysis": {
"added": [
""
],
"removed": [
""
],
"summary": "This section determines the school debt tax rate used for calculating the school building bond agricultural credit.",
"modified": [
""
]
},
"citation": "275.08",
"subdivision": "subdivision 1b"
}
]Progress through the legislative process
In Committee