This bill amends Minnesota Statutes 2024, specifically section 273.1387, subdivision 2, to increase the school building bond agricultural credit from 70 to 100. This change means that for each qualifying property, the credit amount will now be calculated as 100 multiplied by the school debt tax rate determined under section 275.08, subdivision 1b.

Additionally, the bill includes an effective date stipulating that this amendment will take effect for property taxes payable in 2026. This adjustment aims to provide greater financial relief to agricultural property owners by enhancing the school building bond credit.

Statutes affected:
Introduction: 273.1387