MN SF2934

Modifies the sales and use tax exemption for enterprise information technology equipment and computer software purchased after June 30, 2013, for use in qualified data centers or qualified refurbished data centers.

Expands the exemption to include electricity used or consumed in the operation of qualified data centers or qualified refurbished data centers.

Reduces the investment threshold for qualified refurbished data centers from $30,000,000 to $50,000,000 within a 24-month period (compared to 48 months for new facilities).

Extends the exemption period to 20 years from the date of first qualifying purchase or until June 30, 2042, whichever is earlier.

Makes the changes retroactively effective for sales and purchases made after June 30, 2012, except computer software purchases which are effective after June 30, 2013.