Minneslate Logo

SF417 (Legislative Session 94 (2025-2026))

Senior citizen credit establishment

AI Generated Summary

SF No. 417 is a legislative bill proposing the creation of a "senior citizen credit" for property taxes in Minnesota. To be eligible for this credit, the following criteria must be met:

  1. The property must be classified as residential (1a or 1b) or part of an agricultural homestead, including the house, garage, and surrounding one acre.
  2. The property owner must be 65 years or older.
  3. The total household income must not exceed $96,000 for the year before applying.
  4. The property must have been owned and occupied by the senior citizen for at least five years before applying.
  5. The property owners should not be part of the senior citizens property tax deferral program.

Owners can apply for the credit by March 1 of the year before the taxes are due, providing required details such as names, addresses, Social Security numbers, previous year's income, and a copy of the current property tax statement. The credit continues annually until the property is sold, transferred, or no longer qualifies.

The credit amount will be the difference between the current property tax and the tax from a base year (2020), capped at $500. The county auditor calculates the tax reductions and certifies them to the state revenue commissioner, who then ensures local jurisdictions and school districts are reimbursed accordingly.

Funds for these reimbursements come from the state general fund, with specific appropriations assigned to the commissioners of revenue and education to manage the payments to various taxing jurisdictions.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
January 20, 2025SenateFloorActionIntroduction and first reading
January 20, 2025SenateFloorActionReferred toTaxes
January 22, 2025SenateFloorActionAuthor added
March 26, 2025SenateFloorActionAuthor stricken

Citations

 
[
  {
    "analysis": {
      "added": [
        "A new property classification for senior citizen credit eligibility."
      ],
      "removed": [
        "N/A"
      ],
      "summary": "This bill establishes a senior citizen credit under section 273.13.",
      "modified": [
        "Refines property classification criteria for eligibility."
      ]
    },
    "citation": "273.13"
  },
  {
    "analysis": {
      "added": [
        "N/A"
      ],
      "removed": [
        "N/A"
      ],
      "summary": "This bill refers to household income definitions under section 290A.03 for senior citizen credit eligibility.",
      "modified": [
        "Ensures household income thresholds align with existing definitions."
      ]
    },
    "citation": "290A.03"
  },
  {
    "analysis": {
      "added": [
        "N/A"
      ],
      "removed": [
        "N/A"
      ],
      "summary": "This bill requires the use of data submission to the commissioner of revenue as outlined in section 270C.85.",
      "modified": [
        "Specifies necessary data submissions and corrections for property tax credits."
      ]
    },
    "citation": "270C.85"
  },
  {
    "analysis": {
      "added": [
        "N/A"
      ],
      "removed": [
        "N/A"
      ],
      "summary": "This bill relates to the reimbursement process for school districts as provided in section 273.1392.",
      "modified": [
        "Clarifies reimbursement mechanisms for school districts concerning property tax credits."
      ]
    },
    "citation": "273.1392"
  },
  {
    "analysis": {
      "added": [
        "N/A"
      ],
      "removed": [
        "N/A"
      ],
      "summary": "This bill details the application of property tax credits per section 273.1393.",
      "modified": [
        "Explains proportional reductions in net property tax payable to jurisdictions."
      ]
    },
    "citation": "273.1393"
  }
]

Sponsors