This bill establishes a new program called the Capitol Complex County Host Program, which will provide financial aid to Ramsey County starting in 2027. The aid will amount to $5 per square foot for state-owned buildings located in the Capitol Area, as defined in section 15B.02, paragraph (b). The purpose of this aid is to compensate Ramsey County for the loss of tax base and the disproportionate impact of state ownership of these buildings. The funds received must be utilized to reduce the current year's property taxes levied on the county's net tax capacity.

Additionally, the bill includes a provision for the annual appropriation of funds from the general fund to the commissioner of revenue to cover these aid payments, which will be disbursed according to the schedule outlined in section 477A.015. The effective date for this program is set for aids payable in the calendar year 2027 and thereafter.