Legislative Session number- 86

Bill Name: SF2568

3E Related to economic development and job creation encouragement; establishing
a small business tax credit; defining certain terms; establishing a
certification procedure for small businesses, qualified investors and qualified
funds; specified allowed credit; requiring annual reports; providing for
revocation of credits; specifying data privacy provisions; requiring a report to
the legislature; providing for program evaluation; appropriating money and
sunset provision; authorizing local government units (cities, towns, counties)
to finance voluntary energy improvements for property owners to install energy
efficient or renewable energy improvement; defining energy improvement;
prohibiting retail and end use; requiring liens to secure payments and repayment
as a special assessment; authorizing local government revenue bonds issuance;
making conforming changes; modifying apprenticeship training facilities
exemptions; providing an income tax credit for costs incurred for the
rehabilitation of certain certified historic structures, sunset provision;
providing a small business investment credit; authorizing and providing for a
create automotive recovery zone (CARZ) in St. Paul (Ford plant) and making
conforming amendments; allowing a historic structure rehabilitation credit for
insurance companies against the premiums tax; modifying taconite economic
development fund provisions relating to a value-added wood product facility;
requiring taconite property tax relief account transfers for insufficient tax
proceeds for school district distributions; modifying Douglas J. Johnson
economic protection trust fund uses; providing for transportation infrastructure
loans; providing for construction industry economic stimulation by allowing
local government assessments for energy improvements and local government
revenue bonds for green building and sustainable design projects; authorizing
and providing for compact development districts with a sunset date; extending
tax increment financing (TIF) tourism facility property development region
eligibility providing for a jobs credit; modifying TIF economic development
district authorized revenue uses; allowing TIF authorities to spend increments
for construction stimulation; allowing TIF expenditures for housing development;
establishing a create automotive recovery jobs credit; allowing Mall of America
(MOA) development, requiring the city to require developers of any hotel on the
MOA site to enter a labor peace agreement with the labor union that is most
active in representing hotel workers in Ramsey and Hennepin counties;
authorizing the city of Brooklyn Park to establish housing replacement
districts; requiring the iron range resources and rehabilitation board (IRRRB)
to offer early targeted separation incentives to employees; authorizing certain
TIF expenditures by the city of East Grand Forks; providing for St. Paul tax
increment financing (TIF) district expenditure special rules provisions;
extending the duration for the establishment of tax increment financing (TIF)
district in Oakdale; extending the duration of and modifying certain project
requirements for expansion of a tax increment financing (TIF) district in North
Mankato; authorizing the use of tax increments to repay the city of Cohasset for
certain payments; providing for distributions to be made in 2010 only to cities
and townships for various public works projects from the taconite property tax
relief fund; repealing the lower income motor fuels tax credit and the
limitation imposed on the city of Bloomington in the 1996 special legislation
authorizing the Met Center and Kelley farm site land swap
(rt)