| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to taxation; property; allowing valuation reductions on certain property |
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| 3 | 3 | | 1.3 with conservation restrictions or easements; making technical corrections; amending |
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| 4 | 4 | | 1.4 Minnesota Statutes 2024, section 273.117. |
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| 5 | 5 | | 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 6 | 6 | | 1.6 Section 1. Minnesota Statutes 2024, section 273.117, is amended to read: |
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| 7 | 7 | | 1.7 273.117 CONSERVATION PROPERTY TAX VALUATION. |
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| 8 | 8 | | 1.8 (a) The value of real property which that is subject to a conservation restriction or |
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| 9 | 9 | | 1.9easement shall must not be reduced by the assessor if: |
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| 10 | 10 | | 1.10 (a) (1) the restriction or easement is for a conservation purpose and is recorded on the |
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| 11 | 11 | | 1.11property; and |
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| 12 | 12 | | 1.12 (b) (2) the property is being used in accordance with the terms of the conservation |
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| 13 | 13 | | 1.13restriction or easement. |
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| 14 | 14 | | 1.14 (b) This section does not apply to: |
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| 15 | 15 | | 1.15 (1) conservation restrictions or easements covering riparian buffers along lakes, rivers, |
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| 16 | 16 | | 1.16and streams that are used for water quantity or quality control; |
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| 17 | 17 | | 1.17 (2) easements in a county that has adopted, by referendum, a program to protect farmland |
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| 18 | 18 | | 1.18and natural areas since 1999; |
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| 19 | 19 | | 1.19 (3) conservation restrictions or easements in metropolitan counties; |
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| 20 | 20 | | 1Section 1. |
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| 21 | 21 | | REVISOR MS/ES 25-0196301/16/25 |
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| 22 | 22 | | State of Minnesota |
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| 23 | 23 | | This Document can be made available |
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| 24 | 24 | | in alternative formats upon request |
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| 25 | 25 | | HOUSE OF REPRESENTATIVES |
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| 26 | 26 | | H. F. No. 632 |
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| 27 | 27 | | NINETY-FOURTH SESSION |
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| 28 | 28 | | Authored by Nadeau02/13/2025 |
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| 29 | 29 | | The bill was read for the first time and referred to the Committee on Taxes 2.1 (4) conservation restrictions or easements in nonmetropolitan counties that have, by |
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| 30 | 30 | | 2.2resolution, authorized the assessor to consider the impact of conservation restrictions or |
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| 31 | 31 | | 2.3easements on the property's value; or |
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| 32 | 32 | | 2.4 (3) (5) conservation restrictions or easements entered into prior to May 23, 2013. |
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| 33 | 33 | | 2.5 EFFECTIVE DATE.This section is effective for assessment year 2026 and thereafter. |
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| 34 | 34 | | 2Section 1. |
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| 35 | 35 | | REVISOR MS/ES 25-0196301/16/25 |
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