HF 1648

as introduced - 87th Legislature (2011 - 2012) Posted on 05/03/2011 10:15am

A bill for an act
relating to economic development; providing funding for the Minnesota Science
and Technology Authority; proposing coding for new law in Minnesota Statutes,
chapter 116L.

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

Section 1.

new text begin [116L.21] SCIENCE AND TECHNOLOGY FEE.
new text end

new text begin (a) A science and technology workforce enhancement fee of ... percent on taxable
wages as defined in section 268.035, subdivision 24, shall be assessed on primary science
and technology companies, in addition to unemployment taxes due under section 268.051.
This fee shall be due and be paid on the same schedule and in the same manner as other
amounts due from an employer under section 268.051, subdivision 1. Any amount past
due under this section shall be subject to the same interest and collection provisions as
unemployment taxes. All revenues under this section, less reimbursement for collection
costs of the total amount of the fee, shall be deposited in the Minnesota science and
technology fund and are appropriated to the Science and Technology Authority under
chapter 116W.
new text end

new text begin (b) For the purposes of this section, "primary science and technology company"
means a corporation, limited liability company, S corporation, partnership, limited liability
partnership, or sole proprietorship operating within a set of industries that are the primary
developers of new scientific, engineered, or technological products and services and
that operate under the following North American Industry Classification System codes
or industry groups, or any successor code sections covering these areas of research,
development, and commercial activities: 3241, 3251, 3252, 3253, 3254, 3255, 3259, 3331,
3332, 3333, 3336, 3339, 3341, 3342, 3343, 3344, 3345, 3353, 3359, 3364, 3369, 3391,
5112, 5172, 5182, 5415, 5417, 541330, 541380, 541620, and 541690.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2011, and expires June 30,
2015.
new text end