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HF 504

as introduced - 90th Legislature (2017 - 2018) Posted on 01/26/2017 02:07pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to taxation; sales and use; providing a retroactive exemption and refund
for construction materials and supplies purchased by certain nonprofit economic
development corporations; appropriating money.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin SALES TAX EXEMPTION FOR CONSTRUCTION MATERIALS USED
BY A NONPROFIT ECONOMIC DEVELOPMENT CORPORATION.
new text end

new text begin Subdivision 1. new text end

new text begin Exemption; refund. new text end

new text begin Materials and supplies used or consumed in and
equipment incorporated into the construction of a retail development consisting of retail
space for a grocery store, fueling center, or other retail space by a nonprofit economic
development corporation that is a 501(c)(3) organization are exempt from sales and use tax
under Minnesota Statutes, chapter 297A, provided that the development is located in a city
with no grocery store and the city is at least 20 miles from another city with a grocery store.
The exemption applies to materials, supplies, and equipment purchased after January 1,
2013, and before January 1, 2017. The tax must be imposed and collected as if the rate in
Minnesota Statutes, section 297A.62, applied and the nonprofit economic development
corporation must apply for the refund of the tax in the same manner as provided under
Minnesota Statutes, section 297A.75, subdivision 1, clause (11).
new text end

new text begin Subd. 2. new text end

new text begin Appropriation. new text end

new text begin The amount required to pay the refunds under subdivision 1
is appropriated from the general fund to the commissioner of revenue.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment and
applies retroactively to sales and purchases made after January 1, 2013, and before January
1, 2017.
new text end