1.1 	A bill for an act
1.2 	relating to taxation; credit for historic structure rehabilitation; providing for the 
1.3 	status of the Water Tower Barn in Scandia as part of the Scandia Arts and Heritage 
1.4 	Center project.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. SCANDIA WATER TOWER BARN.
 1.7 	(a) The State Historic Preservation Office has indicated the Water Tower Barn in the 
1.8 	city of Scandia is likely to be eligible for listing on the National Register of Historic Places 
1.9 	upon its re-erection and certified rehabilitation. In the event the Water Tower Barn qualifies 
1.10 	for federal and state historic tax credits, the structure and a suitable portion of the site may 
1.11 	be excluded from the state bond financed property pursuant to Minnesota Statutes, section 
1.12 	16A.695, provided that no proceeds of state general obligation bonds are used for any portion 
1.13 	of the Scandia Arts and Heritage Center project that is not subject to Minnesota Statutes, 
1.14 	section 16A.695.
1.15 	(b) Nonstate amounts received and spent on the re-erection and rehabilitation of the 
1.16 	Water Tower Barn, including amounts contributed and the fair market value of (1) the land 
1.17 	leased by the city of Scandia, (2) the contributed historic structure, and (3) in-kind 
1.18 	contributions, shall be counted toward the match requirement under Minnesota Statutes, 
1.19 	section 16A.86, subdivision 4. Funds invested by an investor receiving an assignment of 
1.20 	state historic tax credits pursuant to Minnesota Statutes, section 290.0681, are nonstate 
1.21 	funds for purposes of the match requirement under Minnesota Statutes, section 16A.86, 
1.22 	subdivision 4. Due to the integrated nature of the overall project, public bidding is not 
1.23 	required.