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HF4416 (Legislative Session 94 (2025-2026))

Targeting property tax refund expanded for taxes payable in 2026.

Related bill: SF4725

AI Generated Summary

Purpose

The bill creates a one-time expansion of the targeting property tax refund for property taxes payable in 2026. It changes how the refund is calculated for those refunds, applying a specific substitution in the calculation.

Main Provisions

  • For refunds based on property taxes payable in 2026, the refund calculation under Minnesota Statutes section 290A.04 subdivision 2h must substitute eight percent for twelve percent.
  • The change is enacted with a Notwithstanding clause, meaning it applies despite any conflicting laws.
  • This one-time adjustment applies only to refunds linked to property taxes payable in 2026.

What this means in practice

  • The calculation used to determine the targeting property tax refund for 2026 will use 8% instead of 12% (as specified in the statute).
  • Because 8% is smaller than 12%, the resulting refund amount for those refunds would be different (specifically smaller) than it would be under the usual 12% calculation.
  • The provision is limited to property taxes payable in 2026 and does not indicate changes to other parts of the refund program.

Significant changes to existing law

  • Amends the calculation rule in Minnesota Statutes section 290A.04 subdivision 2h for a single year (property taxes payable in 2026).
  • Uses a Notwithstanding clause to override any conflicting laws for this specific 2026 calculation.

Reach and scope

  • Applies only to refunds based on property taxes payable in 2026.
  • Does not specify broader eligibility or program expansions beyond the calculation adjustment for that year.

Relevant Terms

targeting property tax refund; property taxes payable in 2026; Minnesota Statutes section 290A.04 subdivision 2h; eight percent; twelve percent; one-time expansion; Notwithstanding any law to the contrary; refunds; calculation; tax refunds.

Relevant Terms

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 16, 2026HouseActionIntroduction and first reading, referred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [
        "Onetime expansion modifying the 290A.04, subd. 2h calculation to use 8% instead of 12% for taxes payable in 2026."
      ],
      "removed": [
        "The traditional 12% calculation under 290A.04, subd. 2h for refunds payable in 2026 is effectively replaced."
      ],
      "summary": "This onetime expansion modifies the targeting property tax refund calculation for refunds based on property taxes payable in 2026 by substituting eight percent for twelve percent in Minnesota Statutes section 290A.04, subdivision 2h.",
      "modified": [
        "Calculation method under 290A.04, subd. 2h for refunds payable in 2026 is amended to eight percent instead of twelve percent."
      ]
    },
    "citation": "290A.04",
    "subdivision": "2h"
  }
]

Progress through the legislative process

17%
In Committee

Sponsors

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