SF4725 (Legislative Session 94 (2025-2026))
Targeting property tax refund expansion for taxes payable in 2026
Related bill: HF4416
AI Generated Summary
Purpose
This bill makes a one-time change to how the targeting property tax refund is calculated for taxes payable in 2026. It overrides existing law to alter the calculation used for refunds in that year.
Main provisions
- For refunds based on property taxes payable in 2026, the refund calculation under Minnesota Statutes section 290A.04 subdivision 2h must be done by substituting eight percent for twelve percent.
- The requirement is stated as not limited by other laws (Notwithstanding any law to the contrary), and applies specifically to the 2026 property tax refunds.
Significance and expected effect
- The change applies only to refunds for taxes payable in 2026 and adjusts the calculation by using 8 percent instead of 12 percent, which affects the amount of the refund for that year.
- It is described as a one-time expansion/adjustment to the targeting property tax refund, rather than a permanent reform.
Significant changes to existing law
- Minnesota Statutes section 290A.04 subdivision 2h will be interpreted/calculated with eight percent instead of twelve percent for refunds related to property taxes payable in 2026.
- This override applies "notwithstanding any law to the contrary," meaning it takes precedence over other rules for that year.
Relevant Terms - targeting property tax refund - property taxes payable in 2026 - Minnesota Statutes section 290A.04 subdivision 2h - eight percent / 8 percent - twelve percent / 12 percent - Notwithstanding any law to the contrary - one-time expansion
Note: This summary focuses on the bill’s stated provision and its direct effects on the calculation for the 2026 property tax refunds.
Bill text versions
- Introduction PDF PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 23, 2026 | Senate | Action | Introduction and first reading | ||
| March 23, 2026 | Senate | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"No new statutes created; this is a modification of an existing provision."
],
"removed": [
""
],
"summary": "This bill expands the targeting property tax refund for taxes payable in 2026 by changing the calculation under Minnesota Statutes, section 290A.04, subdivision 2h, substituting eight percent for twelve percent.",
"modified": [
"The refund calculation under MN Stat. 290A.04, subd. 2h is changed from 12 percent to 8 percent for refunds payable in 2026."
]
},
"citation": "290A.04",
"subdivision": "subdivision 2h"
}
]Progress through the legislative process
In Committee