HF 4664

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/07/2024 02:44pm

A bill for an act
relating to taxation; sales and use; providing a refundable exemption for
construction projects in a redevelopment district in the city of St. Cloud.

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

Section 1. new text begin ST. CLOUD; REDEVELOPMENT DISTRICT SALES AND USE TAX
EXEMPTION.
new text end

new text begin Subdivision 1. new text end

new text begin Exemption; refundable. new text end

new text begin (a) Materials and supplies used in and equipment
incorporated into private redevelopment projects on parcels listed in paragraph (b) are
exempt, provided the resulting development is subject to property taxes.
new text end

new text begin (b) The exemption in this section applies to the following parcels, and adjacent roads
and right of ways, with the tax identification numbers:
new text end

new text begin (1) in Stearns County: 82517020000 (Lady Slipper Catalyst Site); 82515440001 (North
Riverfront Catalyst Site); 82515470000; 82515480000 (Empire Catalyst Site); 82518760015
(Swan Lot Catalyst Site); 82528850020 (Riverboat Lot Catalyst Site); and 82528850001
(Former Herbergers); and
new text end

new text begin (2) in Benton County: 170037810 (Transit Oriented Development Catalyst Site);
170058101 (Ace Block Catalyst Site); 170042000; 170041600; 170041100; 170041601;
170041200; 170041800; 170059600 (Star Bank Catalyst Site); 170059300 (Riverfront South
Catalyst Site); 170058300; 170059200; 170058600; 170058800; 170059100; and 170058900.
new text end

new text begin (c) The tax must be imposed and collected as if the rate under Minnesota Statutes, section
297A.62, subdivision 1, applied and then refunded in the same manner provided for projects
under Minnesota Statutes, section 297A.75, subdivision 1, clause ... . The exemption under
this section applies only for sales and purchases made after ....., and before ......
new text end

new text begin Subd. 2. new text end

new text begin Appropriation; limit on refunds. new text end

new text begin The amount required to pay the refunds
under subdivision 1 is appropriated from the general fund to the commissioner of revenue.
The commissioner must not pay more than $....... in refunds for purchases exempt under
this section. Refunds must be processed and issued in the order that complete and accurate
applications are received by the commissioner.
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