Taxation of certain cooperative association property modified.

HF 174 modifies how rural electric cooperative associations are taxed in Minnesota. It replaces personal property taxes on their rural distribution lines and equipment with a flat $10 tax per 100 members (or fraction thereof) for these associations. The bill applies specifically to co-ops organized under Minnesota's cooperative laws that provide electricity to farmers in rural areas, excluding substations and generation equipment. This tax replaces all local property taxes on qualifying infrastructure and must be paid annually by March 1. The changes take effect for tax assessments starting in 2025.