Minnesota SF132 modifies tax provisions for electric cooperatives, exempting certain distribution lines used for supplying electricity to farmers.

Minnesota SF132 amends the state's tax laws to modify the exemption, valuation, and distribution provisions for certain electric cooperatives. Specifically, it exempts distribution lines and their attachments and appurtenances, excluding substations and transmission or generation equipment, used primarily for supplying electricity to farmers at retail. This change is effective for assessment year 2026 and thereafter. The bill also adjusts the tax on cooperative associations, imposing a tax of $10 for each 100 members, or fraction thereof, of such association, payable on December 31 each year.

Minnesota SF132 modifies tax provisions for electric cooperatives, exempting certain distribution lines used for supplying electricity to farmers.

Minnesota SF132 amends the state's tax laws to modify the exemption, valuation, and distribution provisions for certain electric cooperatives. Specifically, it exempts distribution lines and their attachments and appurtenances, excluding substations and transmission or generation equipment, used primarily for supplying electricity to farmers at retail. This change is effective for assessment year 2026 and thereafter. The bill also adjusts the tax on cooperative associations, imposing a tax of $10 for each 100 members, or fraction thereof, of such association, payable on December 31 each year.