§ 469.1732 — TAX INCENTIVES WITHIN DEVELOPMENT ZONES

Minnesota § 469.1732

• Jurisdiction: Minnesota
• Part: LOCAL ECONOMIC DEVELOPMENT
• Ch. 469: ECONOMIC DEVELOPMENT

Text

Subdivision 1.Authority.
A business that conducts business activity within a border city development zone designated under section469.1731may qualify for the property tax exemption under section272.0212and the sales tax exemption under section469.1734, subdivision 6.

Subd. 2.
MS 2000 [Repealed,1Sp2001 c 5 art 9 s 30]

Subd. 3.Phaseout at end of zone duration.
During the last three years of the duration of a border city development zone, the available exemptions, subtractions, or credits are reduced by the following percentages for the taxes payable year or the taxable years that begin during:
(1) the calendar year that is two years before the final year of designation as a development zone, 25 percent;
(2) the calendar year that is immediately before the final year of designation as a development zone, 50 percent; and
(3) for the final calendar year of designation as a development zone, 75 percent.

Legislative History

1998 c 389 art 12 s 7;1Sp1998 c 3 s 4;1Sp2001 c 5 art 9 s 28