Onetime property tax refund or credit provided, and money appropriated.

This bill establishes a one-time property tax refund program for Minnesota property owners who paid eligible taxes in 2026, affecting residential, agricultural, and commercial property classifications. The program allocates $4 billion from the state general fund to provide refunds based on a percentage calculated by the Department of Revenue, with applications accepted between July 15 and September 15, 2026. Any unclaimed refund amounts will automatically be converted into property tax credits for 2027 on the properties where no refund was requested. The legislation defines specific property categories eligible for the refund and sets clear deadlines for application processing and payment distribution.