Bill > HF3028

This bill provides a sales and use tax exemption for specific construction materials used in redevelopment projects in St. Cloud, Minnesota. The bill allows property owners working on designated parcels in Stearns and Benton Counties to receive a full refund of sales and use taxes paid on materials, supplies, and equipment incorporated into private redevelopment projects, provided the resulting development is subject to property taxes. The exemption applies to a list of specific tax parcel numbers, including sites like the Lady Slipper Catalyst Site, North Riverfront Catalyst Site, and Transit Oriented Development Catalyst Site. To receive the refund, applicants must submit detailed documentation to the commissioner of revenue, including information about taxes paid. Contractors and subcontractors must provide itemized statements of exempt items and taxes paid. The tax exemption is limited to sales and purchases made between July 1, 2025, and December 31, 2040, and is capped at a total of $13 million in refunds, which will be processed in the order applications are received. The bill aims to incentivize redevelopment in specific urban areas by reducing the tax burden on construction materials.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF3028&ssn=0&y=2025