1.1 	A bill for an act
1.2 	relating to economic development; creating new business park job development 
1.3 	zones; authorizing tax credits; appropriating money.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. NEW BUSINESS PARK JOB DEVELOPMENT ZONES.
 1.6 		Subdivision 1.Appropriation. $1,000,000 is appropriated in fiscal year 2016 from 
1.7 	the general fund to the commissioner of employment and economic development for the 
1.8 	purpose of administering new business park job development zones. This is a onetime 
1.9 	appropriation and is available until expended.
1.10 		Subd. 2.New business park job development zones. Tax credits under subdivision 
1.11 	3 are available to cities that:
1.12 	(1) have a population of less than 1,000 as of the 2010 census;
1.13 	(2) own land within the city limits and have designated ten acres or less of the land 
1.14 	as a business park, none of which is occupied by an existing business;
1.15 	(3) are making lots available within the business park to businesses at no cost to the 
1.16 	business; and
1.17 	(4) have designated the business park as a new business park job development zone 
1.18 	and adopted a development plan that addresses:
1.19 	(i) the viability of the development plan;
1.20 	(ii) public and private commitment to the development plan;
1.21 	(iii) how the grant would relate to the development of the business park and the 
1.22 	city as a whole; and
1.23 	(iv) how the local regulatory burden will be eased for businesses operating in the 
1.24 	business park.
2.1 	The development plan must include a map of the proposed new business park job 
2.2 	development zone. 
2.3 		Subd. 3.Credit authorized. Qualified property in a new business park job 
2.4 	development zone is allowed a credit against the tax imposed under Minnesota Statutes, 
2.5 	chapter 272, of up to $5,000 per lot, for up to five taxable years, but in no event may the 
2.6 	credit under this section exceed $100,000 per business park job development zone over 
2.7 	a five-year period. For the purposes of this section, "qualified property" means class 3 
2.8 	property as defined in Minnesota Statutes, section 273.13, that is located in a zone and 
2.9 	contains newly constructed improvements after the zone was designated, including the 
2.10 	land that contains the improvements. The city must pay the amount of the credit, as 
2.11 	determined under the terms of the credit approved by the commissioner, to the owner 
2.12 	of the qualified property.
2.13 		Subd. 4.Application; certification. Cities must apply to the commissioner 
2.14 	of employment and economic development for the credit under this section. In its 
2.15 	application, the city must specify the proposed percentage, maximum amount, and any 
2.16 	other parameters of the requested credit. The commissioner shall issue credits on a 
2.17 	first-come, first-served basis after certifying the city has supplied a viable development 
2.18 	plan under subdivision 2. The commissioner shall certify credits in an amount no greater 
2.19 	than the amount appropriated under subdivision 1.

2.20 	EFFECTIVE DATE. This section is effective for property taxes payable beginning 
2.21 	after January 1, 2015.