HF1088 (Legislative Session 94 (2025-2026))
Property tax exemption extended for property held for economic development.
Related bill: SF1587
AI Generated Summary
House File No. 1088 is a legislative bill proposing to extend a property tax exemption for land held by the Port Authority of the city of Bloomington, Minnesota. Originally, this property was acquired in May 2016 and was tax-exempt from 2017 through 2025 according to Minnesota Statutes section 272.02 subdivision 39. This bill seeks to continue the tax exemption for this property for an additional six years, covering taxes payable from 2026 through 2031. The extension is contingent on the property meeting the existing requirements outlined in the mentioned subdivision. Additionally, the bill specifies that an initial application for this continued exemption must be submitted to the assessor by June 30, 2025.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 16, 2025 | House | Floor | Action | Introduction and first reading, referred to | Taxes |
| February 18, 2025 | House | Floor | Action | Author added |
Citations
[
{
"analysis": {
"added": [
"Extends the exemption period for property until 2031."
],
"removed": [
"Previous expiration of the exemption at 2025."
],
"summary": "This bill extends a property tax exemption for property held for economic development under section 272.02.",
"modified": [
"None, as it primarily extends existing provisions."
]
},
"citation": "272.02"
},
{
"analysis": {
"added": [
"Requires applications for the extended exemption to be filed by June 30, 2025."
],
"removed": [
"Not applicable."
],
"summary": "This bill references section 272.025 regarding the application procedure for tax exemptions.",
"modified": [
"Adjusts application deadlines to include the extended exemption period."
]
},
"citation": "272.025"
}
]