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MN HF3316
Bill
Status
3/4/2010
Primary Sponsor
Steve Drazkowski
Click for details
AI Summary
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Exempts materials and supplies used in construction or improvement of new or expanding businesses in St. Charles from sales tax, effective for purchases made after June 30, 2010 and before July 1, 2015.
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Requires qualifying businesses to create a minimum of five full-time equivalent jobs or increase workforce by 20 percent, whichever is greater.
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Authorizes St. Charles to create an economic development tax increment financing district and use tax increment revenue for building materials and equipment that provide energy efficiencies to new business facilities in the district.
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Tax increment financing authorization is effective upon approval by the city governing body and compliance with Minnesota Statutes, section 645.021, subdivision 3.
Legislative Description
St. Charles; sales tax exemption provided for construction materials for new and expanding businesses, and tax increment financing district creation authorized.
Last Action
House: Introduction and first reading, referred to Taxes
3/4/2010