Bill > HF238

This bill modifies the rules for special assessments (mandatory fees charged to property owners for specific local improvements like street repairs) by changing how interest is calculated and handled. Specifically, the bill introduces a provision that if the interest added to an installment payment is greater than the actual interest accrued on that installment, the difference must be treated as an overpayment and be available for refund through the process outlined in section 276.19. The bill also makes technical changes to the language around certification of assessment rolls to the county auditor, clarifying procedures for how and when installments and interest are reported and collected. Additionally, the bill adjusts the prepayment rules for special assessments, modifying the date references for interest calculation and allowing property owners more flexibility in paying off their assessments. The changes are retroactive, applying to special assessments assessed on or after the day following the bill's final enactment. These modifications aim to provide more transparency and potentially reduce unnecessary interest charges for property owners subject to special assessments.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0238&ssn=0&y=2025