Relating to taxation

ARTICLE 1 - INDIVIDUAL INCOME AND CORPORATE FRANCHISE TAXES

Making changes to various income tax provisions; reducing
the corporate tax rate

ARTICLE 2 - FEDERAL UPDATE

Providing updates to the federal internal revenue code; modifying carryback or carryover adjustment

ARTICLE 3 - ANGEL INVESTMENT TAX CREDIT

Authorizing and providing for an angel investment tax
credit; specifying requirements; providing for certification of small
businesses, qualified taxpayers and qualified angel investment network funds; specifying reporting requirements

ARTICLE 4 - MINNESOTA BUSINESS INVESTMENT COMPANY CREDIT

Authorizing and providing for a Minnesota business investment company credit; specifying requirements; providing for aggregate limitations on investment credits; specifying requirements for continuance of certification; specifying reporting requirements; requiring
reports

ARTICLE 5 - TECHZ

Establishing and providing for the TECHZ business economic development program; providing subsidies, tax exemptions and incentives, tax credits and audits

ARTICLE 6 - PROPERTY TAXES, AIDS AND PAYMENTS

Providing property tax reductions, a charter school tax exemption, credit reductions, additional 2010 local government aid (LGA) and aid reductions; repealing aid adjustments

ARTICLE 7 - REFUNDS

Eliminating the political contribution refund; reducing property taxes; repealing spending limit agreement refund receipt forms and political contributions refunds

ARTICLE 8 - MISCELLANEOUS

Providing a penalty for taxpayers failing to produce records; requiring a fee charge for tax payment agreements; lowering the minimum tax return preparation requirement for electronic filing by tax preparers; repealing the special timing account
(rt)