Purpose of the Bill

The bill aims to provide tax relief for construction efforts in Brooklyn Park, Minnesota by offering a sales and use tax exemption specifically for materials used in building a regional athletic facility.

Main Provisions

• Tax Exemption: Construction materials, supplies, and equipment used in the development, reconstruction, upgrade, expansion, and renovation of a regional athletic facility in Brooklyn Park will be exempt from sales and use taxes.
• Refundable Nature: While taxes will still be collected at the normal rate at purchase, they will be refunded entirely to the buyer according to procedures outlined in existing statutes.
• Time Frame: This exemption applies to purchases made between December 1, 2025, and December 31, 2028.
• Funding for Refunds: The necessary funds for these tax refunds will be allocated from the state's general fund to the Minnesota Commissioner of Revenue.

Significant Changes to Existing Law

• This bill creates a new, time-limited tax exemption that is specifically tailored to support the construction of a regional athletic facility in Brooklyn Park. This is an addition to current tax law, which does not provide this specific exemption.

Relevant Terms

• Tax exemption
• Sales and use tax
• Construction materials
• Regional athletic facility
• Brooklyn Park
• Refundable tax