The bill H. F. No. 1938 introduces extensive modifications to Minnesota's tax laws, focusing on the financing and operation of state and local government. Key provisions include the establishment of a one-time refundable rebate credit, adjustments to income tax rates, and the conversion of the renter's property tax refund into a refundable individual income tax credit. The bill also introduces new definitions for "emerging farmer" and modifies tax credits for agricultural asset owners, increasing the maximum credit from $32,000 to $50,000 and reserving 50% of newly allocated credits for emerging farmers. Additionally, it extends the timeline for beginning farmer tax credits and introduces a Net Investment Income Tax for individuals with net investment income exceeding $1,000,000.

Further amendments address property tax regulations, including exemptions for specific properties owned by Indian tribes and elderly living facilities, as well as adjustments to the classification and tax deferment processes for agricultural homestead properties. The bill also enhances local government aid calculations, appropriates funds for various programs, and establishes a new statewide local housing aid program aimed at preventing homelessness. Other significant changes include the introduction of new sales tax exemptions for construction materials and the establishment of a task force to evaluate local taxes for capital projects. Overall, the bill aims to streamline tax provisions, enhance financial support for local governments, and provide targeted tax relief to specific groups and sectors.

Statutes affected:
Introduction: 116J.8737, 289A.08, 290.0131, 290.0132, 290.06, 290.067, 290.0671, 290.0674, 290.0677, 290.0681, 290.091, 297A.61, 297A.67, 297A.70, 297A.71, 297A.75, 273.124, 273.1245, 273.1315, 273.1387, 290B.03, 290B.04, 290B.05, 477A.011, 477A.0124, 477A.013, 477A.03, 270C.52
1st Engrossment: 13.46, 41B.0391, 116U.27, 168B.07, 256J.45, 256L.15, 289A.08, 289A.382, 290.01, 290.0132, 290.0133, 290.0134, 290.06, 290.067, 290.0671, 290.0674, 290.0677, 290.0682, 290.0685, 290.0686, 290.091, 290.17, 290.21, 297I.20, 514.972, 289A.02, 290A.03, 291.005, 272.01, 272.02, 273.11, 273.124, 273.1245, 273.13, 273.1315, 275.065, 290B.03, 290B.04, 290B.05, 273.1392, 290A.04, 477A.011, 477A.0124, 477A.013, 477A.03, 477A.12, 477A.30, 297A.61, 297A.67, 297A.68, 297A.70, 273.1341, 298.015, 298.018, 298.28, 298.296, 10A.31, 270B.12, 270B.14, 270C.445, 289A.18, 289A.38, 289A.56, 289A.60, 290A.02, 290A.05, 290A.07, 290A.08, 290A.09, 290A.091, 290A.13, 290A.19, 290A.25, 327C.02, 462A.05, 469.174, 469.175, 469.176, 469.1761, 469.1763, 273.1382, 469.1771, 297A.01, 118A.04, 123B.61, 366.095, 373.01, 383B.117, 410.32, 412.301, 469.033, 469.053, 469.107, 474A.02, 475.54, 3.8855, 270A.03, 270C.52, 278.01, 279.03, 282.261, 297E.02, 297E.021, 297H.13, 349.11, 349.12, 462A.38, 270A.04, 289A.50, 290.92, 290.9705, 6.495, 477B.01, 477B.02, 477B.03, 477B.04, 477C.02, 477C.03, 477C.04, 270C.13, 270C.446, 299C.76, 270C.19, 295.50, 296A.083
2nd Engrossment: 13.46, 41B.0391, 116U.27, 168B.07, 256J.45, 256L.15, 289A.08, 289A.382, 290.01, 290.0132, 290.0133, 290.0134, 290.06, 290.067, 290.0671, 290.0674, 290.0677, 290.0682, 290.0685, 290.0686, 290.091, 290.17, 290.21, 297I.20, 514.972, 289A.02, 290A.03, 291.005, 272.01, 272.02, 273.11, 273.124, 273.1245, 273.13, 273.1315, 275.065, 290B.03, 290B.04, 290B.05, 273.1392, 290A.04, 477A.011, 477A.0124, 477A.013, 477A.03, 477A.12, 477A.30, 297A.61, 297A.67, 297A.68, 297A.70, 273.1341, 298.015, 298.018, 298.28, 298.296, 10A.31, 270B.12, 270B.14, 270C.445, 289A.18, 289A.38, 289A.56, 289A.60, 290A.02, 290A.05, 290A.07, 290A.08, 290A.09, 290A.091, 290A.13, 290A.19, 290A.25, 327C.02, 462A.05, 469.174, 469.175, 469.176, 469.1761, 469.1763, 273.1382, 469.1771, 297A.01, 118A.04, 123B.61, 366.095, 373.01, 383B.117, 410.32, 412.301, 469.033, 469.053, 469.107, 474A.02, 475.54, 3.8855, 270A.03, 270C.52, 278.01, 279.03, 282.261, 297E.02, 297E.021, 297H.13, 349.11, 349.12, 462A.38, 270A.04, 289A.50, 290.92, 290.9705, 6.495, 477B.01, 477B.02, 477B.03, 477B.04, 477C.02, 477C.03, 477C.04, 270C.13, 270C.446, 299C.76, 270C.19, 295.50, 296A.083
3rd Engrossment: 13.46, 41B.0391, 116U.27, 168B.07, 256J.45, 256L.15, 289A.08, 289A.382, 290.01, 290.0132, 290.0133, 290.0134, 290.06, 290.067, 290.0671, 290.0674, 290.0677, 290.0682, 290.0685, 290.0686, 290.091, 290.17, 290.21, 297I.20, 514.972, 289A.02, 290A.03, 291.005, 272.01, 272.02, 273.11, 273.124, 273.1245, 273.13, 273.1315, 275.065, 290B.03, 290B.04, 290B.05, 273.1392, 290A.04, 477A.011, 477A.0124, 477A.013, 477A.03, 477A.12, 477A.30, 297A.61, 297A.67, 297A.68, 297A.70, 273.1341, 298.015, 298.018, 298.28, 298.296, 10A.31, 270B.12, 270B.14, 270C.445, 289A.18, 289A.38, 289A.56, 289A.60, 290A.02, 290A.05, 290A.07, 290A.08, 290A.09, 290A.091, 290A.13, 290A.19, 290A.25, 327C.02, 462A.05, 469.174, 469.175, 469.176, 469.1761, 469.1763, 273.1382, 469.1771, 297A.01, 118A.04, 123B.61, 366.095, 373.01, 383B.117, 410.32, 412.301, 469.033, 469.053, 469.107, 474A.02, 475.54, 3.8855, 270A.03, 270C.52, 278.01, 279.03, 282.261, 297E.02, 297E.021, 297H.13, 349.11, 349.12, 462A.38, 270A.04, 289A.50, 290.92, 290.9705, 6.495, 477B.01, 477B.02, 477B.03, 477B.04, 477C.02, 477C.03, 477C.04, 270C.13, 270C.446, 299C.76, 270C.19, 295.50, 296A.083
4th Engrossment: 41B.0391, 116J.8737, 116U.27, 289A.08, 289A.382, 290.01, 290.0122, 290.0123, 290.0131, 290.0132, 290.0133, 290.0134, 290.06, 290.067, 290.0671, 290.0674, 290.0677, 290.0681, 290.091, 290.095, 290.21, 297I.20, 289A.02, 290A.03, 291.005, 103D.905, 272.02, 273.11, 273.111, 273.124, 273.1245, 273.128, 273.13, 273.1315, 275.065, 290B.03, 290B.04, 290B.05, 383E.21, 473F.02, 273.1392, 290A.04, 477A.011, 477A.0124, 477A.013, 477A.014, 477A.015, 477A.03, 477A.12, 477A.30, 38.27, 297A.61, 297A.67, 297A.68, 297A.70, 297A.71, 273.1341, 298.015, 298.018, 298.28, 298.296, 13.46, 270B.12, 270B.14, 289A.18, 289A.38, 289A.56, 289A.60, 290A.02, 290A.05, 290A.07, 290A.08, 290A.09, 290A.091, 290A.13, 290A.19, 290A.25, 327C.02, 462A.05, 469.174, 469.175, 469.176, 469.1763, 273.1382, 469.1771, 297A.99, 297A.01, 118A.04, 123B.61, 366.095, 373.01, 383B.117, 410.32, 412.301, 469.033, 469.053, 469.107, 474A.02, 475.54, 16A.726, 297A.994, 297E.02, 297E.06, 349.11, 349.12, 349.151, 349.163, 473J.13, 126C.10, 127A.50, 354.05, 354.42, 354A.011, 354A.12, 356.215, 3.8855, 270A.03, 270C.19, 270C.52, 278.01, 279.03, 282.261, 297H.13, 462A.38, 270A.04, 289A.50, 290.92, 290.9705, 6.495, 477B.01, 477B.02, 477B.03, 477B.04, 477C.02, 477C.03, 477C.04, 270C.13, 270C.446, 299C.76, 295.50, 296A.083
1st Unofficial Engrossment: 13.4967, 41B.0391, 116J.401, 116J.8737, 116U.27, 270B.14, 289A.08, 289A.382, 290.01, 290.0131, 290.0132, 290.0134, 290.06, 290.067, 290.0671, 290.0674, 290.0677, 290.0681, 290.0685, 290.091, 290.17, 297I.20, 289A.02, 290A.03, 291.005, 103D.905, 272.02, 272.025, 273.11, 273.111, 273.124, 273.1245, 273.128, 273.13, 273.1315, 273.41, 279.03, 282.261, 290A.04, 290B.03, 290B.04, 290B.05, 383E.21, 473F.02, 273.1392, 477A.011, 477A.0124, 477A.013, 477A.014, 477A.015, 477A.03, 477A.12, 477A.16, 38.27, 297A.67, 297A.68, 297A.70, 297A.71, 273.1341, 298.015, 298.018, 298.28, 298.296, 469.174, 469.175, 469.176, 469.1763, 273.1382, 469.1771, 297A.99, 123B.61, 366.095, 373.01, 383B.117, 410.32, 412.301, 469.033, 469.053, 469.107, 473.39, 474A.02, 475.54, 16A.726, 297A.994, 473J.13, 206.95, 270C.19, 270C.52, 278.01, 297H.13, 289A.50, 290.92, 290.9705, 6.495, 477B.01, 477B.02, 477B.03, 477B.04, 477C.02, 477C.03, 477C.04, 13.46, 270C.13, 270C.446, 290A.19, 299C.76, 295.50, 296A.083, 297A.61
CCR-HF1938A: 41B.0391, 116J.8737, 116U.27, 289A.08, 289A.382, 290.01, 290.0122, 290.0123, 290.0131, 290.0132, 290.0133, 290.0134, 290.06, 290.067, 290.0671, 290.0674, 290.0677, 290.0681, 290.091, 290.095, 290.21, 297I.20, 289A.02, 290A.03, 291.005, 103D.905, 272.02, 273.11, 273.111, 273.124, 273.1245, 273.128, 273.13, 273.1315, 275.065, 290B.03, 290B.04, 290B.05, 383E.21, 473F.02, 273.1392, 290A.04, 477A.011, 477A.0124, 477A.013, 477A.014, 477A.015, 477A.03, 477A.12, 477A.30, 38.27, 297A.61, 297A.67, 297A.68, 297A.70, 297A.71, 273.1341, 298.015, 298.018, 298.28, 298.296, 13.46, 270B.12, 270B.14, 289A.18, 289A.38, 289A.56, 289A.60, 290A.02, 290A.05, 290A.07, 290A.08, 290A.09, 290A.091, 290A.13, 290A.19, 290A.25, 327C.02, 462A.05, 469.174, 469.175, 469.176, 469.1763, 273.1382, 469.1771, 297A.99, 297A.01, 118A.04, 123B.61, 366.095, 373.01, 383B.117, 410.32, 412.301, 469.033, 469.053, 469.107, 474A.02, 475.54, 16A.726, 297A.994, 297E.02, 297E.06, 349.11, 349.12, 349.151, 349.163, 473J.13, 126C.10, 127A.50, 354.05, 354.42, 354A.011, 354A.12, 356.215, 3.8855, 270A.03, 270C.19, 270C.52, 278.01, 279.03, 282.261, 297H.13, 462A.38, 270A.04, 289A.50, 290.92, 290.9705, 6.495, 477B.01, 477B.02, 477B.03, 477B.04, 477C.02, 477C.03, 477C.04, 270C.13, 270C.446, 299C.76, 295.50, 296A.083
1st Engrossment: 13.46, 41B.0391, 116U.27, 168B.07, 256J.45, 256L.15, 289A.08, 289A.382, 290.01, 290.0132, 290.0133, 290.0134, 290.06, 290.067, 290.0671, 290.0674, 290.0677, 290.0682, 290.0685, 290.0686, 290.091, 290.17, 290.21, 297I.20, 514.972, 289A.02, 290A.03, 291.005, 272.01, 272.02, 273.11, 273.124, 273.1245, 273.13, 273.1315, 275.065, 290B.03, 290B.04, 290B.05, 273.1392, 290A.04, 477A.011, 477A.0124, 477A.013, 477A.03, 477A.12, 477A.30, 297A.61, 297A.67, 297A.68, 297A.70, 273.1341, 298.015, 298.018, 298.28, 298.296, 10A.31, 270B.12, 270B.14, 270C.445, 289A.18, 289A.38, 289A.56, 289A.60, 290A.02, 290A.05, 290A.07, 290A.08, 290A.09, 290A.091, 290A.13, 290A.19, 290A.25, 327C.02, 462A.05, 469.174, 469.175, 469.176, 469.1761, 469.1763, 273.1382, 469.1771, 297A.01, 118A.04, 123B.61, 366.095, 373.01, 383B.117, 410.32, 412.301, 469.033, 469.053, 469.107, 474A.02, 475.54, 3.8855, 270A.03, 270C.52, 278.01, 279.03, 282.261, 297E.02, 297E.021, 297H.13, 349.11, 349.12, 462A.38, 270A.04, 289A.50, 290.92, 290.9705, 6.495, 477B.01, 477B.02, 477B.03, 477B.04, 477C.02, 477C.03, 477C.04, 270C.13, 270C.446, 299C.76, 270C.19, 295.50, 296A.083
2nd Engrossment: 13.46, 41B.0391, 116U.27, 168B.07, 256J.45, 256L.15, 289A.08, 289A.382, 290.01, 290.0132, 290.0133, 290.0134, 290.06, 290.067, 290.0671, 290.0674, 290.0677, 290.0682, 290.0685, 290.0686, 290.091, 290.17, 290.21, 297I.20, 514.972, 289A.02, 290A.03, 291.005, 272.01, 272.02, 273.11, 273.124, 273.1245, 273.13, 273.1315, 275.065, 290B.03, 290B.04, 290B.05, 273.1392, 290A.04, 477A.011, 477A.0124, 477A.013, 477A.03, 477A.12, 477A.30, 297A.61, 297A.67, 297A.68, 297A.70, 273.1341, 298.015, 298.018, 298.28, 298.296, 10A.31, 270B.12, 270B.14, 270C.445, 289A.18, 289A.38, 289A.56, 289A.60, 290A.02, 290A.05, 290A.07, 290A.08, 290A.09, 290A.091, 290A.13, 290A.19, 290A.25, 327C.02, 462A.05, 469.174, 469.175, 469.176, 469.1761, 469.1763, 273.1382, 469.1771, 297A.01, 118A.04, 123B.61, 366.095, 373.01, 383B.117, 410.32, 412.301, 469.033, 469.053, 469.107, 474A.02, 475.54, 3.8855, 270A.03, 270C.52, 278.01, 279.03, 282.261, 297E.02, 297E.021, 297H.13, 349.11, 349.12, 462A.38, 270A.04, 289A.50, 290.92, 290.9705, 6.495, 477B.01, 477B.02, 477B.03, 477B.04, 477C.02, 477C.03, 477C.04, 270C.13, 270C.446, 299C.76, 270C.19, 295.50, 296A.083