Exemption establishment for an electric generation facility

This bill proposes a property tax exemption for specific electric generation facilities in Minnesota. It would apply to natural gas-powered plants with a capacity between 40 and 50 megawatts that are owned by municipal power agencies and located outside the metropolitan area. To qualify, the facility must be built between January 1, 2027, and January 1, 2030, be situated within 1,000 feet of an existing natural gas pipeline, address a resource shortage identified in an integrated resource plan, and receive approval from the city and county where it is located. The exemption would cover attached machinery and personal property at the facility but would not include transmission lines, interconnections, or gas pipelines. The tax exemption would begin with property taxes payable in 2030.