2005 Minnesota Statutes

     469.1732 Tax incentives within development zones. 

    Subdivision 1.    Authority.  A business that conducts 
 business activity within a border city development zone 
 designated under section 469.1731 may qualify for the property 
 tax exemption under section 272.0212 and the sales tax exemption 
 under section 469.1734, subdivision 6. 

    Subd. 2. Repealed, 1Sp2001 c 5 art 9 s 30 

    Subd. 3.    Phaseout at end of zone duration.  During 
 the last three years of the duration of a border city 
 development zone, the available exemptions, subtractions, or 
 credits are reduced by the following percentages for the taxes 
 payable year or the taxable years that begin during: 

    (1) the calendar year that is two years before the final 
 year of designation as a development zone, 25 percent; 

    (2) the calendar year that is immediately before the final 
 year of designation as a development zone, 50 percent; and 

    (3) for the final calendar year of designation as a 
 development zone, 75 percent. 

    HIST: 1998 c 389 art 12 s 7; 1Sp1998 c 3 s 4; 1Sp2001 c 5 art 
 9 s 28