2006 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    Subd. 2.[Repealed, 1Sp2001 c 5 art 9 s 30]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.
History: 1998 c 389 art 12 s 7; 1Sp1998 c 3 s 4; 1Sp2001 c 5 art 9 s 28