Bill > SF1709

This bill modifies how interest is calculated and handled for unpaid special assessments in Minnesota municipalities. Specifically, the bill introduces a new provision that if the amount of interest added to an installment is greater than the actual interest accrued on that installment, the difference must be treated as an overpayment and be available for refund under section 276.19. The bill allows property owners to prepay assessments with interest accrued to the date of payment, rather than to a fixed date like December 31, providing more flexibility. The changes also clarify certification processes for assessments to county auditors, including how and when installments and interest should be reported. Technical amendments are made to language around certification and prepayment procedures. The bill is effective the day after final enactment and applies to special assessments assessed on or after that date, which means it will impact future special assessment calculations and refund processes for municipal improvements.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF1709&ssn=0&y=2025