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HF 2281

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 02:01am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to taxation; job opportunity building zones; authorizing a duration
extension for a zone in the city of Faribault.

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

Section 1. new text beginCITY OF FARIBAULT; JOBZ EXTENSION.
new text end

new text begin Notwithstanding the provisions of Minnesota Statutes, section 469.312, subdivision
5, the city of Faribault may, with approval by the commissioner of employment and
economic development, extend the duration of a job opportunity building zone located
within its corporate boundaries by five years. This authority applies to a zone that borders
on Trunk Highway No. I-35 and Park Avenue. The authority to extend the duration of
the zone applies only if the city enters a business subsidy agreement that provides for a
business, which is engaged in manufacturing products that increase the efficiency of the
use of energy resources, to construct or improve a facility in the zone.
new text end

new text begin The authority to extend the duration of a zone under this section expires January 1,
2011.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end