as introduced - 92nd Legislature (2021 - 2022) Posted on 01/25/2021 01:45pm
Engrossments | ||
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Introduction | Posted on 01/25/2021 |
A bill for an act
relating to taxation; sales and use; providing an exemption for certain collegiate
ticket purchasing rights; amending Minnesota Statutes 2020, section 297A.67, by
adding a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2020, section 297A.67, is amended by adding a subdivision
to read:
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The sale of the privilege of
admission under section 297A.61, subdivision 3, paragraph (g), clause (1), does not include
consideration paid for the right to purchase a ticket to a collegiate athletic event in a preferred
area, and the sale of the right to purchase a ticket is exempt provided that:
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(1) the consideration paid for the right to purchase in the preferred area is used entirely
to support student scholarship costs;
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(2) the consideration paid for the right to purchase in the preferred area is separately
stated from the admission price; and
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(3) the admission price is equal to or greater than the highest priced general admission
ticket for the closest seat not in the preferred area.
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This section is effective for sales and purchases made after June
30, 2021.
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