HF 1961

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to economic development; providing an
exemption from prevailing wage requirements for
qualified businesses in job opportunity building
zones; amending Minnesota Statutes 2004, section
469.315.

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

Section 1.

Minnesota Statutes 2004, section 469.315, is
amended to read:

469.315 deleted text begin TAX deleted text end INCENTIVES AVAILABLE IN ZONES.

Qualified businesses that operate in a job opportunity
building zone, individuals who invest in a qualified business
that operates in a job opportunity building zone, and property
located in a job opportunity building zone qualify for:

(1) exemption from individual income taxes as provided
under section 469.316;

(2) exemption from corporate franchise taxes as provided
under section 469.317;

(3) exemption from the state sales and use tax and any
local sales and use taxes on qualifying purchases as provided in
section 297A.68, subdivision 37;

(4) exemption from the state sales tax on motor vehicles
and any local sales tax on motor vehicles as provided under
section 297B.03;

(5) exemption from the property tax as provided in section
272.02, subdivision 64;

(6) exemption from the wind energy production tax under
section 272.029, subdivision 7; deleted text begin and
deleted text end

(7) the jobs credit allowed under section 469.318 new text begin ; and
new text end

new text begin (8) exemption from the prevailing wage rate as required by
section 116J.871 and defined under section 177.42, subdivision 6 new text end .