Bill > SF132

This bill addresses multiple aspects of taxation, property taxes, and public finance in Minnesota, with changes affecting various state agencies, tax credits, and financial provisions. The bill modifies numerous sections of Minnesota law, with key provisions including: expanding exemptions for electric cooperatives' property tax assessments by changing how distribution lines are classified; adjusting homestead and agricultural property tax classifications; modifying political contribution refund procedures by establishing an electronic filing system and unique receipt validation numbers; creating new income tax subtraction allowances for discharge of coerced debt and foreign service pensions; increasing the maximum market value for certain resort property tax classifications; and providing tax penalty forgiveness for the city of Stewart. The bill also includes provisions for reporting state aid usage by local units, counties, and tribal governments, and makes technical changes to various bond allocation and public finance processes. Some provisions have specific effective dates, with many becoming effective for tax years or assessment years beginning after December 31, 2024, or 2025. The comprehensive nature of the bill suggests it is an omnibus tax and finance legislation aimed at making technical corrections, providing tax relief, and updating various financial regulations across multiple areas of Minnesota state law.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0132&ssn=0&y=2025