Payment in lieu of taxation; definitions established, and payments for other lakeshore land established.

HF 1780 establishes a new payment system for "other lakeshore land" owned by the state and administered by the commissioner or county. It defines this land as parcels of state-owned "other natural resources land" abutting lakes identified by the Department of Natural Resources. Counties with such land will receive annual payments equal to either $5.133 per acre or 0.75% of the land's appraised value (whichever is greater), starting in 2026. Funds are distributed with 40% going to county general funds for property tax reduction, and the remainder supporting resource development on the land. This directly affects counties holding state-owned lakeshore parcels.