1.1 	A bill for an act
1.2 	relating to outdoor heritage; establishing property tax valuation criteria for 
1.3 	conservation easements purchased with outdoor heritage funds;amending 
1.4 	Minnesota Statutes 2012, section 273.117.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. Minnesota Statutes 2012, section 273.117, is amended to read:
1.7 	273.117 CONSERVATION PROPERTY TAX VALUATION.
1.8 	(a) Except as provided under paragraph (b), the value of real property which is 
1.9 	subject to a conservation restriction or easement may be adjusted by the assessor if:
1.10 	(a) (1) the restriction or easement is for a conservation purpose as defined in section 
1.11 	84.64, subdivision 2, and is recorded on the property; and
1.12 	(b) (2) the property is being used in accordance with the terms of the conservation 
1.13 	restriction or easement.
1.14 	(b) The assessor shall value in fee simple any real property subject to one or more 
1.15 	conservation easements acquired in whole or in part with money from the outdoor heritage 
1.16 	fund established under the Minnesota Constitution, article XI, section 15.

1.17 	EFFECTIVE DATE. This section is effective for assessment year 2013 and 
1.18 	thereafter, for taxes payable in 2014 and thereafter.