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SF 687

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
Version List Authors and Status
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A bill for an act
 relating to economic development; extending the time period for JOBZ treatment
for biodiesel fuel plants; amending Minnesota Statutes 2006, section 469.312,
subdivision 5.

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

Section 1.

Minnesota Statutes 2006, section 469.312, subdivision 5, is amended to read:


Subd. 5.

Duration limit.

(a) 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.

(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:

(1) the qualified business operates an ethanol plant, as defined in section 41A.09,
new text begin or a biodiesel fuel plant, as defined in section 239.77, subdivision 1, new text end on the site that
includes the parcel; and

(2) the business subsidy agreement was executed after April 30, 2006.