MN SF2925

Creates a refundable tax credit for qualifying venues (live venue operators, promoters, theatrical producers, and live performing arts organizations) that received federal shuttered venue grants and paid performers during March 1, 2020 through June 30, 2022.

Eligible expenses for the credit include payments to performers for live Minnesota performances where a Form 1099 was issued to a performer with a Minnesota address.

Provides a sales and use tax exemption for admission ticket sales at qualifying venues during the qualifying period, with refunds available by October 1, 2023.

Credits pass through to partners, members, shareholders, or owners of partnership entities pro rata based on their ownership share.

Appropriates sufficient funds from the general fund to cover refunds and makes provisions retroactively effective for tax years beginning after December 31, 2019 and before January 1, 2023.