MN SF3480

Amends Minnesota Statutes 2014, section 297A.71 to add a new subdivision providing a sales tax exemption for building materials and supplies used to construct a siding production facility

Exemption applies to facilities that produce at least a specified amount of board feet of siding (amount not filled in on introduced version)

Tax must be imposed and collected at the standard rate under section 297A.62, subdivision 1, then refunded according to procedures in section 297A.75

Effective for sales and purchases made after June 30, 2016

Sponsored by Senators Tomassoni, Bakk, and Saxhaug; referred to Taxes committee as of April 7, 2016