Legislative Session number- 86

Bill Name: SF1062

1E Relating to economic development

ARTICLE 1 - GREEN JOB OPPORTUNITY
BUILDING ZONES

Establishing green job opportunity building zones (green
JOBZ), defining terms, specifying limitations, providing an application for
designation procedure, eligibility and criteria, providing for business subsidy
agreements and reports, green job opportunity building zones designation,
available tax incentives, individual income and corporate franchise tax
exemptions, green jobs credit, property tax exemption and wind energy production
tax exemption, requiring a tax benefit report from qualifying businesses,
providing income tax benefits, allowing an income tax jobs credit, requiring tax
benefits repayment by businesses no longer operating in a zone and continuing
eligibility certification, specifying agreement breaches and prohibition against
amendments to business subsidy agreements, allowing state auditor
audits

ARTICLE 2 - MINNESOTA SMALL BUSINESS INVESTMENT COMPANY
CREDIT

Providing a Minnesota small business investment company credit,
defining terms, specifying requirements, aggregate limitations on investment
credits allocation, continued certification requirements, reporting
requirements, distributions, audit, certification revocation, registration
requirements, reporting, credit allowed and repayment upon
decertification

ARTICLE 3 - JOB GROWTH INVESTMENT TAX CREDIT

Providing a
job growth investment tax credit, defining terms, specifying qualified regional
investment fund requirements, funds certification and requirements and
individual investors certification, allowing a job growth investment tax
credit

ARTICLE 4 - BIOMETHANE ENERGY

Allowing natural gas utilities to
include in conservation programs biomethane energy projects installation,
defining terms
(rt)