MN SF3447

Authorizes the Commissioner of Employment and Economic Development to approve state general tax refunds for eligible businesses located in designated job creation zones where unemployment rates average at least 75 percent higher than the statewide rate over the preceding three years.

Defines eligible businesses as for-profit employers that pay at least 50 percent of total wages to employees residing in the job creation zone or contiguous census tracts, with different eligibility criteria for businesses in the seven-county metropolitan area versus rural areas under 40,000 population.

Refund amount equals the state general tax on the property multiplied by the ratio of business-occupied area to total property area, with applications due by July 1 annually and refunds paid by December 1.

Provides one-time transitional refund equal to 50 percent of the prior year's amount for businesses whose areas no longer qualify as job creation zones, though relocating businesses are ineligible.

Requires a report by January 15, 2023 detailing refunds issued, amounts, business identification, and employment data; appropriates necessary general fund amounts; applies to tax years 2016 through 2026.