Increases shareholder limit for entity-owned agricultural property eligible for homestead tax treatment in Minnesota.

This bill amends Minnesota Statutes to increase the shareholder limit for entity-owned agricultural property eligible for homestead tax treatment. It allows family farm corporations, joint family farm ventures, limited liability companies, and partnerships to qualify for homestead treatment. Homestead treatment applies even if the legal title to the property is in the entity's name rather than the resident's.

Increases shareholder limit for entity-owned agricultural property eligible for homestead tax treatment in Minnesota.

This bill amends Minnesota Statutes to increase the shareholder limit for entity-owned agricultural property eligible for homestead tax treatment. It allows family farm corporations, joint family farm ventures, limited liability companies, and partnerships to qualify for homestead treatment. Homestead treatment applies even if the legal title to the property is in the entity's name rather than the resident's.