Legislative Session number- 83

Bill Name: HF0003

hf3FIRST ENGROSSMENTTax-free property zones established, exemptions provided for
+individuals and businesses, state aid and repayment of tax benefits provided,
and +money appropriated.Section 1: Job opportunity building zone property
established.Sec. 2: Tax exemption for wind energy conversion systems
provided.Sec. 3: Job opportunity building zone income allowed to be +subtracted
from federal taxable income.Sec. 4: "Taxable income" definition modified.Sec.
5: Technical statutory references added.Sec. 6: Job opportunity building zone
job credit provided. Sec. 7: Credit amount calculation procedure modified.Sec.
8-9: Conforming changes.Sec. 10: Alternative minimum taxable income definition
modified.Sec. 11: "Minnesota property" and "Minnesota payrolls" definitions
+modified.Sec. 12: Job opportunity building zone tax exemptions provided.Sec.
13: Conforming changes.Sec. 14: Related terms defined.Sec. 15: Development
plan provided.Sec. 16: Job opportunity building zone limitations detailed.Sec.
17: Application for designation content detailed.Sec. 18: Designation
procedure for job opportunity building zones +provided.Sec. 19: Tax incentives
made available in job opportunity building +zones.Sec. 20: Individual income
tax exemption provided.Sec. 21: Corporate franchise tax exemption provided.Sec.
22: Jobs credit detailed.Sec. 23: Repayment procedure for tax benefits
established.Sec. 24: Zone performance reporting and remedy procedures
+established.Sec. 25: Job opportunity building zone aid eligibility and
+certification requirements provided.Sec. 26: Money appropriated.AE