SF2171

SF2171 (Legislative Session 94 (2025-2026))

New single-family residential housing for first-time homebuyers refundable construction exemption provision

Related bill: HF177

AI Generated Summary

This bill proposes a refundable sales and use tax exemption for construction materials, supplies, and equipment used in building new single-family homes for first-time homebuyers in Minnesota. To qualify, the homebuyer must own and occupy the home. The exemption applies to the first $460,000 of construction costs. The tax on these purchases must still be collected initially but will be refunded later. This exemption is set to expire on July 1, 2033.

Bill text versions

Introduction PDF file

Actions

Date	Chamber	Where	Type	Name	Committee Name
March 05, 2025	House	Floor	Action	Introduction and first reading
March 05, 2025	Senate	Floor	Action	Introduction and first reading
March 05, 2025	House	Floor	Action	Referred to	Taxes
March 05, 2025	Senate	Floor	Action	Referred to	Taxes

Citations

[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill refers to the tax refund process under section 297A.75.",
      "modified": [
        "Clarifies application of refund process for new home construction exemptions."
      ]
    },
    "citation": "297A.75",
    "subdivision": "subdivisions 1"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Uses existing tax rate provisions relevant to construction material exemption for first-time homebuyers under section 297A.62.",
      "modified": []
    },
    "citation": "297A.62",
    "subdivision": "subdivisions 1 and 1a"
  }
]