Minnesota SF4408 establishes a Capitol Complex County Host Program to compensate Ramsey County for state-owned buildings.

Minnesota SF4408 creates a Capitol Complex County Host Program to provide financial aid to Ramsey County. Starting in 2027, the commissioner of revenue will pay $5 per square foot of state-owned buildings in the Capitol Area to Ramsey County from the general fund. This aid aims to offset the loss of tax base and disproportionate impact caused by state ownership. The payments must be used to reduce current year property taxes levied on net tax capacity within the county. An annual appropriation is made to cover these payments.

Minnesota SF4408 establishes a Capitol Complex County Host Program to compensate Ramsey County for state-owned buildings.

Minnesota SF4408 creates a Capitol Complex County Host Program to provide financial aid to Ramsey County. Starting in 2027, the commissioner of revenue will pay $5 per square foot of state-owned buildings in the Capitol Area to Ramsey County from the general fund. This aid aims to offset the loss of tax base and disproportionate impact caused by state ownership. The payments must be used to reduce current year property taxes levied on net tax capacity within the county. An annual appropriation is made to cover these payments.