SF 3364

as introduced - 89th Legislature (2015 - 2016) Posted on 04/01/2016 09:16am

A bill for an act
relating to state government; establishing a historic barn rehabilitation grant
program; appropriating money; proposing coding for new law in Minnesota
Statutes, chapter 138.

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

Section 1.

new text begin [138.90] HISTORIC BARN REHABILITATION PROGRAM.
new text end

new text begin Subdivision 1. new text end

new text begin Establishment. new text end

new text begin The director shall establish a historic barn
rehabilitation grant program to award grants to barn owners to be used for financing costs
related to the restoration and rehabilitation of historic barns in the state.
new text end

new text begin Subd. 2. new text end

new text begin Definitions. new text end

new text begin (a) For purposes of this section, the following terms have
the meanings given.
new text end

new text begin (b) "Director" means the director of the Minnesota Historical Society.
new text end

new text begin (c) "Qualified rehabilitation costs" means amounts that are properly includable in
computing the basis for tax purposes of the barn. Amounts treated as an expense and
deducted in the tax year in which they are paid or incurred and amounts that are otherwise
not added to the basis for tax purposes of the eligible barn are not qualified rehabilitation
costs. Amounts incurred for architectural and engineering fees, site survey fees, legal
expenses, insurance premiums, development fees, and other construction-related costs
are qualified rehabilitation costs to the extent they are added to the basis for tax purposes
of the eligible barn.
new text end

new text begin (d) "Society" means the Minnesota Historical Society.
new text end

new text begin Subd. 3. new text end

new text begin Application. new text end

new text begin The director must develop forms and procedures for
soliciting and reviewing applications for grants under this section. At a minimum, an
applicant must include in its application certification that the barn qualifies as a certified
historic structure under section 47(c)(3)(A) of the Internal Revenue Code. The director
must determine whether the applicant is eligible for a grant. The director must determine
the method in which grants are paid.
new text end

new text begin Subd. 4. new text end

new text begin Program requirements. new text end

new text begin A grant must not be awarded under this section
until the following determinations are made:
new text end

new text begin (1) the barn qualifies as a certified historic structure under section 47(c)(3)(A) of the
Internal Revenue Code, is located in Minnesota, and was constructed before 1937; and
new text end

new text begin (2) the amount on which the grant is based qualifies as qualified rehabilitation costs.
new text end

new text begin Subd. 5. new text end

new text begin Grants. new text end

new text begin The director may award grants to applicants to offset the expenses
incurred from the qualified rehabilitation costs of a barn. The grant amount must not
exceed … percent of the qualified rehabilitation costs. The director must not issue more
than one grant to the same applicant.
new text end

new text begin Subd. 6. new text end

new text begin Appropriation. new text end

new text begin (a) An amount sufficient to pay the grants authorized
under this section is appropriated to the society from the general fund.
new text end

new text begin (b) $....... is appropriated to the society for costs associated with personnel and
administrative expenses related to administering the grant authorized under this section.
new text end