This bill amends several sections of the Minnesota Statutes related to taxation and payments in lieu of taxation for various types of land. It introduces a new definition for "other lakeshore land," which refers to parcels of natural resources land that abut lakes identified by the Department of Natural Resources. Additionally, the bill clarifies that "other natural resources land" excludes this newly defined category of lakeshore land. The bill also establishes a new payment structure for counties, allowing for payments based on the acreage of other lakeshore land, which is set at $5.133 per acre or three-fourths of one percent of the appraised value, whichever is greater.

Furthermore, the bill modifies the distribution of payments to counties, ensuring that funds allocated for other lakeshore land are included in the overall payment calculations. It specifies that 40 percent of the total payment to counties will be deposited into the county general revenue fund for property tax levy reduction, while the remaining funds will be allocated for resource development and maintenance. The effective date for these changes is set for aids payable in 2026 and thereafter.

Statutes affected:
Introduction: 477A.11, 477A.12, 477A.14