HF 4145

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

A bill for an act
relating to taxation; extending the duration of certain job opportunity building
zones; amending Minnesota Statutes 2004, section 469.312, subdivision 5.

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

Section 1.

Minnesota Statutes 2004, section 469.312, subdivision 5, is amended to read:

Subd. 5.

Duration limit.

new text begin (a) new text end The maximum duration of a zone is 12 years. The
applicant may request a shorter duration. The commissioner may specify a shorter
duration, regardless of the requested duration.

new text begin (b) The duration limit under this subdivision and the duration of the zone for
purposes of allowance of tax incentives described in section 469.315 is extended by three
calendar years for each parcel of property that meets the following requirements:
new text end

new text begin (1) the qualified business operates an ethanol plant, as defined in section 41A.09, on
the site that includes the parcel; and
new text end

new text begin (2) the business subsidy agreement was executed after April 30, 2006.
new text end

new text begin EFFECTIVE DATE. new text end

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