SF 1419 Minnesota Senate · 2025-2026 Regular Session

Agricultural assets owners available credit cap elimination provision

This bill eliminates dollar limits on tax credits for Minnesota agricultural landowners who sell or rent property to beginning farmers. Currently, credits are capped at $50,000 for land sales and $7,000 annually for cash rent; the bill removes these maximums. It directly affects agricultural property owners and beginning farmers by allowing credits to scale with transaction value without annual caps. The change applies to credits under Minnesota Statutes sections 41B.0391 and 290.06, effective for taxable years beginning after December 31, 2024.

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 17, 2025 Last action Mar 6, 2025

Maddy AI version diff · 1 comparison

What changed between versions

Introduction → 1st Engrossment · 4 edits · Mar 6, 2025

MODERATE

This bill updates the definition of 'beginning farmer' to include 'limited land access farmers' and removes the separate category for 'emerging farmers.' It adds new reporting requirements to track the number and demographics of these farmers receiving tax credits. The changes aim to better support farmers who face barriers to land ownership and improve data collection on the program's impact.

Scope change

The bill's scope is expanded to include limited land access farmers as eligible recipients of the tax credit, while removing the specific provision for emerging farmers.

ELIGIBILITY

The definition of 'beginning farmer' was updated to include 'limited land access farmers' and removed the separate definition for 'emerging farmers.'

REQUIREMENT

New reporting requirements were added to collect data on the number, demographics, and geographic distribution of beginning farmers receiving credits.

DEFINITION

The term 'emerging farmer' was removed from the statute, and the term 'limited land access farmer' was added to the list of defined terms.

TIMELINE

Application deadlines were established, with different dates for beginning farmers versus owners of agricultural assets.

Floor votes

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 6, 2025

Upper · Passed

Comm report: To pass as amended and re-refer to Agriculture, Veterans, Broadband, and Rural Development

upper

Feb 17, 2025

Committee

Referred to Taxes

upper

Feb 17, 2025

Introduced

Introduction and first reading

upper

1 primary · 4 co-sponsors