This bill proposes a property tax exemption for certain electric generation facilities in Minnesota, specifically those with an installed capacity of more than 40 megawatts and less than 50 megawatts. The new legal language added to Minnesota Statutes 2024, section 272.02, establishes criteria for eligibility, including that the facility must utilize natural gas as a primary fuel, be owned and operated by a municipal power agency, and be located within 1,000 feet of an existing natural gas pipeline. Additionally, the facility must address a resource deficiency identified in an integrated resource plan, be situated outside the metropolitan area, and receive approval from local governing bodies for the exemption.

Construction of the qualifying facility must begin between January 1, 2026, and January 1, 2028, and the exemption does not apply to electric transmission lines, interconnections, or gas pipelines related to the facility. The effective date for this property tax exemption is set for property taxes payable in 2029.

Statutes affected:
Introduction: 272.02