1.1 A bill for an act
1.2 relating to taxation; property; extending a property tax exemption for property
1.3 held for economic development.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. EXEMPTION FOR LAND HELD FOR ECONOMIC DEVELOPMENT .
1.6 Notwithstanding Minnesota Statutes, section 272.02, subdivision 39, property owned
1.7by the Port Authority of the city of Bloomington that was acquired by the Port Authority
1.8in May 2016 and exempt under Minnesota Statutes, section 272.02, subdivision 39, for
1.9taxes payable in 2017 through 2025, must continue to be exempt pursuant to Minnesota
1.10Statutes, section 272.02, subdivision 39, for taxes payable in 2026 through 2031 provided
1.11that the requirements of that subdivision are met. Notwithstanding Minnesota Statutes,
1.12section 272.025, an initial application for the exemption under this section must be filed
1.13with the assessor by June 30, 2025.
1.14 EFFECTIVE DATE.This section is effective the day after the governing body of the
1.15city of Bloomington and its chief clerical officer comply with the requirements of Minnesota
1.16Statutes, section 645.021, subdivisions 2 and 3.
1Section 1.
REVISOR MS/ES 25-0310902/10/25
State of Minnesota
This Document can be made available
in alternative formats upon request
HOUSE OF REPRESENTATIVES
H. F. No. 1088
NINETY-FOURTH SESSION
Authored by Coulter and Greene02/17/2025
The bill was read for the first time and referred to the Committee on Taxes