Commercial-industrial property state general levy reduction provision

This bill reduces the statewide tax levy for commercial-industrial properties from $716,990,000 to $684,990,000 annually, effective for property taxes payable in 2026 and beyond. It directly affects commercial and industrial property owners across Minnesota by lowering their state tax burden. The change modifies Minnesota Statutes section 275.025, specifically adjusting the fixed levy amount without altering local tax rates or government levy calculations. The reduction amounts to approximately $32 million per year in state tax revenue for these properties.