This bill amends Minnesota Statutes to provide a surplus refund to owners of homesteads based on the November forecast of general fund revenues. It modifies section 16A.152, subdivision 2, by adding a new clause that allocates any remaining funds after certain priority transfers to make adjustments under section 290A.50 specifically for the November forecast. The bill also establishes a new section, 290A.50, which outlines the process for determining and distributing the surplus refund to eligible homestead owners.

Under the new provisions, county assessors are required to certify a list of qualifying homesteads by January 30 each year, excluding properties occupied by relatives of the owners. The refund amount is calculated based on the surplus identified in the November forecast, with a minimum threshold of $170 million; if the surplus is below this amount, no refund will be issued. Payments to property owners must be made by June 30 of the year in which the refund is applicable, and the necessary funds for these payments are appropriated from the general fund. The effective date for the new refund provisions is set for January 1, 2026.

Statutes affected:
Introduction: 16A.152