This bill amends several sections of the Minnesota Statutes related to property taxes for electric cooperatives. Specifically, it modifies the language regarding the exemption of property used to distribute electricity to farmers, clarifying that the exemption applies to distribution systems but excludes substations, transmission, or generation equipment. The bill also updates the assessment and taxation provisions for electric cooperatives, ensuring that the same exclusions apply to the systems being assessed.

Additionally, the bill establishes a tax of $10 for each 100 members of the cooperative, which will replace all personal property taxes on the specified distribution systems. The effective date for these changes is set for the assessment year 2026 and thereafter. Overall, the bill aims to streamline the taxation process for electric cooperatives while providing clarity on what constitutes taxable property.

Statutes affected:
Introduction: 272.02, 273.38, 273.41