MN HF2332

Creates a new category of "qualified greater Minnesota business" for small businesses located outside the Twin Cities metropolitan area that meet all standard qualified small business requirements and have headquarters and at least 51 percent of employees and payroll in greater Minnesota.

Increases the small business investment tax credit from 25 percent to 50 percent for investments in qualified greater Minnesota businesses, while maintaining the 25 percent credit for investments in other qualified small businesses.

Adds "greater Minnesota" definition referencing the area outside the metropolitan area as defined in Minnesota Statutes section 473.121, subdivision 2.

Requires businesses to apply for certification as a qualified greater Minnesota business and allows the commissioner to certify businesses under the new category alongside standard qualified small business certification.

Effective the day following final enactment for taxable years beginning after December 31, 2011.