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A bill for an act
relating to taxation; exempting certain tenants from personal property taxation;
amending Minnesota Statutes 2024, section 273.19, subdivision 1, by adding a
subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2024, section 273.19, subdivision 1, is amended to read:
Subdivision 1.
Tax-exempt property; lease.
Except as provided in subdivision
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1b,
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3
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,
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or 4, tax-exempt property held under a lease for a term of at least one year, and not taxable
under section
272.01, subdivision 2
, or under a contract for the purchase thereof, shall be
considered, for all purposes of taxation, as the property of the person holding it. In this
subdivision, "tax-exempt property" means property owned by the United States, the state
or any of its political subdivisions, a school, or any religious, scientific, or benevolent society
or institution, incorporated or unincorporated, or any corporation whose property is not
taxed in the same manner as other property. This subdivision does not apply to property
exempt from taxation under section
272.01, subdivision 2
, paragraph (b), clauses (2), (3),
and (4), or to property exempt from taxation under section
272.0213
.
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EFFECTIVE DATE.
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This section is effective beginning with assessment year 2026
and thereafter.
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Sec. 2.
Minnesota Statutes 2024, section 273.19, is amended by adding a subdivision to
read:
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Subd. 1b.
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Lessees in affordable housing.
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Property of an institution of purely public
charity with a purpose of providing housing for low-income individuals, which qualifies
for a property tax exemption, that is held under lease by a lessee, is not the property of the
lessee for all purposes of taxation.
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EFFECTIVE DATE.
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This section is effective beginning with assessment year 2026
and thereafter.
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