Certain tenants personal property taxation exemption provision

This bill modifies Minnesota's personal property tax rules to exempt certain affordable housing tenants from being taxed on property they lease. It directly affects lessees of properties owned by public charity institutions that provide housing for low-income individuals and qualify for property tax exemptions. Under the new provisions, such leased property would not be considered the lessee's property for tax purposes, meaning tenants would not be responsible for personal property taxes on these assets. The changes apply to the assessment year 2026 and all subsequent years.