SF 3618

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/15/2024 03:02pm

A bill for an act
relating to taxation; sales and use; providing a refundable sales tax exemption for
construction materials for the city of Watertown.

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

Section 1. new text begin CITY OF WATERTOWN; SALES TAX EXEMPTION FOR
CONSTRUCTION MATERIALS.
new text end

new text begin Subdivision 1. new text end

new text begin Exemption; refund. new text end

new text begin (a) Materials and supplies used or consumed in and
equipment incorporated into the construction, reconstruction, upgrade, expansion, renovation,
or remodeling of a new water tower in the city of Watertown are exempt from sales and use
tax under Minnesota Statutes, chapter 297A, provided that the materials, supplies, and
equipment are purchased after April 30, 2024, and before February 1, 2026.
new text end

new text begin (b) 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 (17).
new text end

new text begin Subd. 2. new text end

new text begin Appropriation. 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.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for sales and purchases made after April
30, 2024, and before February 1, 2026.
new text end