Electric generation transition aid; criteria for an eligible taxing jurisdiction to qualify for aid modified, and calculation of aid modified.

This bill modifies how Minnesota calculates financial aid given to local governments when coal, nuclear, or natural gas power plants are retired or switch fuel sources. It directly affects counties, cities, towns, and school districts that currently receive this transition assistance. The law updates the rules for determining which areas qualify for aid and changes the formula used to calculate the payment amount, including new requirements for utilities to notify the state before retiring a plant. Additionally, the bill adjusts the timeline for when aid payments begin and sets specific conditions under which a local government might stop receiving funds if its overall tax capacity grows significantly.