Minnesota HF4686 makes certain school district levy amounts eligible for the school building bond agricultural credit.

Minnesota HF4686 amends the state statutes to make specific school district levy amounts eligible for the school building bond agricultural credit. This change applies to levies authorized under sections 123B.53, 123B.535, and 123B.55, adjusted by sections 126C.46 and 126C.48, excluding debt service amounts necessary for repayment of other postemployment benefits. The bill also requires districts to identify the portion of the levy that is levied for debt service at the time the levy is certified. This change takes effect beginning with taxes payable in 2027.

Minnesota HF4686 makes certain school district levy amounts eligible for the school building bond agricultural credit.

Minnesota HF4686 amends the state statutes to make specific school district levy amounts eligible for the school building bond agricultural credit. This change applies to levies authorized under sections 123B.53, 123B.535, and 123B.55, adjusted by sections 126C.46 and 126C.48, excluding debt service amounts necessary for repayment of other postemployment benefits. The bill also requires districts to identify the portion of the levy that is levied for debt service at the time the levy is certified. This change takes effect beginning with taxes payable in 2027.