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SF2993 (Legislative Session 94 (2025-2026))

City of Minneapolis Upper Harbor Terminal Amphitheater construction materials refundable exemption provision and appropriation

Related bill: HF2724

AI Generated Summary

Purpose of the Bill

This bill aims to provide financial relief for the construction of the Upper Harbor Terminal Amphitheater in Minneapolis by offering a specific exemption from sales and use tax on certain construction-related purchases.

Main Provisions

  • Exemption Details: The bill proposes a refund system for sales and use taxes on construction materials, supplies, fixtures, furniture, and equipment used in building, renovating, or enhancing the Upper Harbor Terminal Amphitheater. This exemption applies specifically to purchases made by contractors, subcontractors, or the amphitheater's operator.
  • Eligibility Timeframe: To qualify for the tax exemption, eligible purchases must occur between July 1, 2025, and December 31, 2028.
  • Tax Collection and Refund Process: Although the tax will initially be collected at the standard rate, it will later be refunded. The refund process will follow the procedures used for similar projects as outlined in Minnesota Statutes.

Significant Changes

  • The bill introduces a refundable tax exemption specifically targeted at the Upper Harbor Terminal Amphitheater project. This creates an incentive to manage the cost of public infrastructure improvements by reducing tax burdens associated with materials and equipment.

Relevant Terms

  • Sales and use tax
  • Refundable exemption
  • Upper Harbor Terminal Amphitheater
  • Construction materials
  • Minneapolis
  • Contractor and subcontractor purchases

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
March 26, 2025SenateFloorActionIntroduction and first reading
March 26, 2025SenateFloorActionReferred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill refers to the application of sales and use tax rates under section 297A.62.",
      "modified": []
    },
    "citation": "297A.62",
    "subdivision": "subdivisions 1 and 1a"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "This bill outlines the procedures for refunding taxes in a manner consistent with projects under section 297A.75.",
      "modified": []
    },
    "citation": "297A.75",
    "subdivision": "subdivision 1 clause 17"
  }
]

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