School district seasonal tax base replacement aid established, and money appropriated.

HF 1161 creates a new funding mechanism for Minnesota school districts with significant seasonal property (like lakeshore areas). It establishes "seasonal tax base replacement aid" that adjusts a district's local tax levy based on the ratio of seasonal property value to total property value, with the adjustment capped between 50% and 100%. The bill appropriates funds to cover this aid, reducing districts' required tax levies without lowering them below zero, starting with taxes payable in 2026. This directly affects school districts that rely on seasonal property taxes for local funding.