Senate Tax Bill Finds Local Support From Senator Putnam

(KNSI) – The upcoming Senate tax bill is poised to make some significant changes locally and statewide, and is drawing support from a notable name.

St. Cloud-area Senator Aric Putnam announced his support for the bill, which includes a provision to raise money for the water park at the local YMCA. Earlier this year the St. Cloud City Council voted to ask the Minnesota Legislature for permission to enact a quarter-cent sales tax. The proposed three-year sales tax would generate roughly $7 million for the project, the amount needed to start construction based on the latest estimates. The YMCA has already received around $11.8 million in pledges but needs additional funding to move forward.

The city would then need legislative approval, adopt a resolution accepting the new law, conduct a voter referendum, and receive residents’ approval. If all those steps are completed, the council could then pass an ordinance officially imposing the tax. If approved at each stage, the question could appear on the November ballot.

Other provisions in the bill would return over $100 million to Minnesota homeowners, while updating the state tax system. The legislation will give a 12% boost to 588,000 homeowners on their property tax refunds, averaging $171 per refund.

It would also make it easier for young people to start farming in Minnesota by eliminating the cap on tax credits available to beginner farmers and allowing more types of farm businesses to qualify, and invest in clean jet fuel research using state-grown crops.

The measure also helps create the nation’s first statewide tax on social media data collection, ensuring that platforms like Facebook, Instagram, and TikTok would pay their fair share when profiting from Minnesotans’ personal data. Unlike a traditional sales tax on a product or transaction, this tax targets the business model itself. Platforms like Facebook, TikTok, YouTube offer free services to users but monetize the data those users generate through targeted advertising and other means. Under this legislation, if a platform profits from data about Minnesota residents, the state receives a share, regardless of whether any sale of that data takes place.

Additionally, for the first time since 2008, the bill would increase the market value for disabled veterans, resulting in lower property tax bills for veterans with service-connected disabilities.

“This tax bill represents exactly the kind of forward-thinking policy Minnesota needs,” said Sen. Putnam. “The Senate tax bill is legislation that solves today’s problems while anticipating tomorrow’s challenges.”

The bill is currently awaiting further action in the Senate.

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