HF4485 (Legislative Session 94 (2025-2026))
Land monument protection fund established for the public land survey system monument grant program, and new fee set for registration of a mortgage or deed.
AI Generated Summary
Purpose
- Establish a Land Monument Protection Fund to support the Public Land Survey System monument grant program.
- Create or specify a new fee for recording mortgages or deeds.
- Amend Minnesota statutes related to mortgage recording and related fees, and provide a coding framework for new law in chapter 287.1.
Main Provisions
- Mortgage Recording Tax: A tax is imposed on the privilege of recording a mortgage, at a rate of 0.23% of the debt (or portion of a debt) secured by any recorded mortgage of real property located in Minnesota.
- Responsible Party: The mortgagor (the borrower) is liable for the recording tax.
- Interest Exemption: The tax does not apply to the lawful interest amounts that may accrue with respect to the debt.
- New Recording Fee: The county recorder or registrar of titles must charge a per-recording fee for each mortgage recording. The revenue from this fee must be deposited into the Land Monument Protection Fund established under section 287.40.
- Fund用途: Revenue from the new recording fee supports the Land Monument Protection Fund, which funds the Public Land Survey System monument grant program.
- Fee Separation: The new recording fee is separate from existing fees charged under sections 357.18, 508.81, and 508A.82.
- Codification: The bill proposes coding for new law in Minnesota Statutes chapter 287.1 and amends sections 287.035 and 287.21, subdivision 1 (though the excerpt provides details only for 287.035).
Changes to Law
- Amends Minnesota Statutes 2024 section 287.035 to create and fund the Land Monument Protection Fund from mortgage recording activity.
- Establishes a dedicated revenue stream from mortgage recording tax and recording fees to support monument-related programs.
- Explicitly separates the new fee from other mortgage-related fees already in law.
Financial/Administrative Impact
- New revenue source: Mortgage recording tax (0.23%) plus a per-recording fee to fund the Land Monument Protection Fund.
- Administrative responsibility lies with county recorders or registrars of titles to collect the tax and the recording fee.
- Revenue dedicated to the Land Monument Protection Fund, not mingled with general funds.
Status/Process
- The bill was introduced in the House (H. F. No. 4485) and referred to the Committee on Elections Finance and Government Operations for consideration.
Significant Changes Highlight
- Creates a dedicated funding mechanism (Land Monument Protection Fund) linked to mortgage recording activities.
- Establishes a fixed recording tax rate (0.23%) and directs funds to a specific program (Public Land Survey System monument grant program).
- Introduces and separates a new recording fee from existing real estate recording fees.
Relevant Terms
- Land Monument Protection Fund
- Public Land Survey System monument grant program
- mortgage recording tax
- mortgagor
- recording tax rate 0.23% (0.0023)
- debt secured by mortgage
- real property
- county recorder
- registrar of titles
- recording fee
- section 287.40
- Minnesota Statutes 2024 section 287.035
- Minnesota Statutes 2024 section 287.21, subdivision 1
- Minnesota Statutes chapter 287.1
- separate from fees in sections 357.18, 508.81, 508A.82
- recording of a mortgage
Bill text versions
- Introduction PDF PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 18, 2026 | House | Action | Introduction and first reading, referred to | Elections Finance and Government Operations |
Citations
[
{
"analysis": {
"added": [
"Imposition of a mortgage recording tax at a rate of .0023 of the debt secured by recorded mortgages.",
"Direction that the revenue from the tax be deposited into the land monument protection fund (section 287.40).",
"Clarification that the mortgage recording tax is separate from fees charged under sections 357.18, 508.81, and 508A.82."
],
"removed": [],
"summary": "This bill amends Minnesota Statutes 2024, section 287.035 to impose a mortgage recording tax and to direct the resulting revenue to the land monument protection fund (section 287.40), while clarifying that this fee is separate from other fees charged under sections 357.18, 508.81, and 508A.82.",
"modified": [
"Creates/changes existing tax provisions for mortgage recordings within section 287.035."
]
},
"citation": "287.035",
"subdivision": ""
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "Preamble of the bill references Minnesota Statutes 2024 section 287.21 subdivision 1, but the text of the bill provided does not amend that subdivision. No changes to 287.21(1) are enacted in the excerpt.",
"modified": []
},
"citation": "287.21",
"subdivision": "1"
},
{
"analysis": {
"added": [
"Cross-reference to the land monument protection fund in 287.40."
],
"removed": [],
"summary": "The bill references a land monument protection fund under section 287.40, into which the mortgage recording tax revenue would be deposited.",
"modified": []
},
"citation": "287.40",
"subdivision": ""
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The text indicates the mortgage recording tax revenue is separate from fees charged under section 357.18, but does not modify 357.18 itself.",
"modified": []
},
"citation": "357.18",
"subdivision": ""
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The text indicates the mortgage recording tax revenue is separate from fees charged under section 508.81, but does not modify 508.81 itself.",
"modified": []
},
"citation": "508.81",
"subdivision": ""
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The text indicates the mortgage recording tax revenue is separate from fees charged under section 508A.82, but does not modify 508A.82 itself.",
"modified": []
},
"citation": "508A.82",
"subdivision": ""
}
]Progress through the legislative process
In Committee