Exemption permission for certain leased land

This bill (SF 49) amends Minnesota property tax law to add new exemptions for certain leased land used in business. It exempts property leased for specific purposes like airport hangars used for aircraft storage/repair, concessions in public parks or airports, cooperative farming agreements, and conservation grazing - directly affecting businesses leasing land for these activities. The key provision removes the requirement for lessees to pay taxes on such property, which would otherwise apply to leased business property. The changes take effect for 2026 property taxes.