The bill establishes a Property Tax Task Force in Minnesota, aimed at investigating the causes of property tax increases across various local government entities, including counties, school districts, cities, and towns. The task force will also explore options to enhance transparency regarding local government budgets, particularly in standardizing information presented in required notices and meetings. The Legislative Coordinating Commission will facilitate the task force, which will consist of appointed members from the state legislature, the commissioner of revenue, and representatives from local government associations. Appointments must be completed by June 15, 2026, and the task force is required to meet regularly until November 1, 2026.

Additionally, the task force is mandated to submit a report containing its advisory recommendations to the relevant legislative committees by January 15, 2027. This report will be followed by a public hearing during the regular legislative session. The task force will expire upon the submission of this report. The provisions of the bill will take effect the day after final enactment.