1.1                          A bill for an act 
  1.2             relating to taxation; exempting agricultural loans 
  1.3             from the mortgage registry tax; amending Minnesota 
  1.4             Statutes 1998, section 287.04, by adding a subdivision.
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  Minnesota Statutes 1998, section 287.04, is 
  1.7   amended by adding a subdivision to read: 
  1.8      Subd. 3.  [AGRICULTURAL LOANS.] No tax is imposed upon an 
  1.9   agricultural loan which is or may be secured by any mortgage of 
  1.10  real property situated within the state.