Minnesota 2023-2024 Regular Session

Minnesota Senate Bill SF5041

Introduced
3/18/24  

Caption

Property tax exemption for certain Indian Tribe owned property establishment

Impact

If enacted, S.F. No. 5041 will enable certain Indian Tribes to benefit from property tax exclusions, thereby potentially freeing up financial resources that can be allocated to community development or other essential services. The legislation is expected to impact urban areas significantly, given the population requirement for the qualifying cities, which may enhance the viability of tribal entities operating in larger municipalities while addressing economic disparities.

Summary

S.F. No. 5041 is a legislative proposal aimed at establishing a property tax exemption for specific properties owned by federally recognized Indian Tribes in Minnesota. This bill, introduced by Senator Mohamed, modifies Minnesota Statutes 2022, section 272.02, to include a new subdivision that dictates the qualifications for property tax exemption. Eligible properties must have been classified as class 3a for the tax year 2024, be located in a first-class city with a population exceeding 400,000, and be owned by an Indian Tribe or its instrumentalities as of January 1, 2023.

Contention

While the intention behind S.F. No. 5041 is to recognize and facilitate the financial operations of Indian Tribes, it may face scrutiny regarding the implications of preferential tax treatment. Concerns may arise regarding the impact on local governments' revenue streams, particularly in the populous areas the bill targets. Municipalities might argue that such exemptions could aggravate existing revenue shortfalls, compelling them to adjust service provisions or raise taxes elsewhere to mitigate the loss. The discourse surrounding the bill is likely to evolve as both proponents and critics present arguments on its broader economic and social implications.

Companion Bills

MN HF5062

Similar To Property tax exemption for property owned by an Indian Tribe established.

Previously Filed As

MN SF363

Property tax exemption establishment for certain property owned by an Indian Tribe

MN SF1579

Certain Indian Tribe owned property tax exemption establishment provision

MN SF4486

Property tax exemption for certain property owned by and Indian Tribe

MN SF3413

Certain property owned by an Indian Tribe property tax exemption establishment

MN HF5062

Property tax exemption for property owned by an Indian Tribe established.

MN HF1126

Property tax exemption established for certain property owned by an Indian Tribe.

MN HF4540

Property tax exemption established for property owned by an Indian Tribe.

MN SF764

Indian tribe owned property tax exemption extension

MN HF967

Property tax exemption established for certain property owned by an Indian Tribe.

MN HF3192

Property tax exemption established for certain property owned by an Indian Tribe.

Similar Bills

No similar bills found.