Legislative Session number- 89

Bill Name: SF0435

1E "Minnesota New Markets Jobs Act"; providing capital for business growth in
economically distressed communities; defining certain terms; specifying the
establishment of income tax credit; establishing the right to transfer credits
under certain conditions; specifying certain instances where tax credits are
disallowed and certain penalties are applied; requiring a notice of
noncompliance before disallowance; authorizing the performance fee to be
refundable under certain conditions; allowing qualified community development
entities to request investments be preapproved; prohibiting the management of
qualified equity investments by another certified development entity;
establishing certain reporting requirements
(me)