MN SF4918

Materials and supplies used in and equipment incorporated into private redevelopment projects on specified parcels in St. Cloud are exempt from sales and use tax, provided the resulting development is subject to property taxes.

Exemption applies to 7 parcels in Stearns County (including Lady Slipper Catalyst Site, North Riverfront Catalyst Site, Empire Catalyst Site, Swan Lot Catalyst Site, Riverboat Lot Catalyst Site, and Former Herbergers) and 14 parcels in Benton County, plus adjacent roads and right-of-ways.

Sales and use tax must be collected at the rate specified in Minnesota Statutes section 297A.62, subdivision 1, and then refunded using the same process provided for projects under Minnesota Statutes section 297A.75, subdivision 1.

An unspecified amount from the general fund is appropriated to the commissioner of revenue to pay refunds, with a maximum refund limit (amount to be determined) and refunds processed in order of complete and accurate application receipt.

Exemption applies only to sales and purchases made during a specified timeframe (dates to be determined) and becomes effective the day following final enactment.