Lowers special property tax refund threshold, increases maximum refund, imposes excise tax on social media data collection, and provides onetime.

The bill amends the special property tax refund to lower the threshold and increase the maximum refund for homeowners with property tax increases over 12%. It establishes an excise tax on social media platform businesses based on the number of Minnesota consumers whose data they collect. The bill also creates a onetime public safety aid for local and tribal governments, with specific provisions on how the aid must be used and reported. The excise tax and property tax refund changes take effect for consumer data collected and taxes payable in 2026 and later.

Lowers special property tax refund threshold, increases maximum refund, imposes excise tax on social media data collection, and provides onetime.

The bill amends the special property tax refund to lower the threshold and increase the maximum refund for homeowners with property tax increases over 12%. It establishes an excise tax on social media platform businesses based on the number of Minnesota consumers whose data they collect. The bill also creates a onetime public safety aid for local and tribal governments, with specific provisions on how the aid must be used and reported. The excise tax and property tax refund changes take effect for consumer data collected and taxes payable in 2026 and later.