as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to taxation; increasing the agricultural 1.3 homestead market value credit; amending Minnesota 1.4 Statutes 2001 Supplement, section 273.1384, 1.5 subdivision 2. 1.6 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.7 Section 1. Minnesota Statutes 2001 Supplement, section 1.8 273.1384, subdivision 2, is amended to read: 1.9 Subd. 2. [AGRICULTURAL HOMESTEAD MARKET VALUE CREDIT.] 1.10 Property classified as class 2a agricultural homestead is 1.11 eligible for an agricultural credit. The credit is equal to0.21.12 0.4 percent of the first $115,000 of the property's market value. 1.13 The credit under this subdivision is limited to $230 for each 1.14 homestead. 1.15 [EFFECTIVE DATE.] This section is effective for taxes 1.16 payable in 2003 and thereafter.