Legislative Session number- 81

Bill Name: SF2114

Relating to taxation; increasing school district debt service and referendum
equalization revenues; modifying the debt service equalization and health and
safety levy formulas; increasing the debt service equalization aid
appropriation; reducing the general education tax rate; limiting increases in
market value for property tax purposes; reducing the property tax rates on the
first tier of residential homestead property and on commercial and noncommercial
seasonal residential recreational property; modifying the education homestead
credit; modifying the tax base differential for homestead and agricultural
credit aid (HACA) to correspond to the property tax rate reductions; reducing
individual income tax rates and modifying the brackets; reducing the rate of
alternative minimum tax (AMT) on preference items; reducing the general sales
tax rate; repealing the MinnesotaCare gross earnings tax imposed on hospitals
and health care providers and the property tax education homestead credit
percentage reduction requirement (ra)