Minnesota HF178 provides a refundable construction tax exemption for new multifamily residential housing for first-time homebuyers.

Minnesota HF178 amends state statutes to exempt materials and supplies used in the construction of new multifamily residential housing for first-time homebuyers from sales and use tax. This exemption applies to duplexes and triplexes, with the first-time homebuyer required to own and occupy at least one unit. The tax exemption is limited to the first $460,000 of construction costs. The refund for the tax paid on exempt items is available to eligible applicants, including the owner or developer of the housing.

Minnesota HF178 provides a refundable construction tax exemption for new multifamily residential housing for first-time homebuyers.

Minnesota HF178 amends state statutes to exempt materials and supplies used in the construction of new multifamily residential housing for first-time homebuyers from sales and use tax. This exemption applies to duplexes and triplexes, with the first-time homebuyer required to own and occupy at least one unit. The tax exemption is limited to the first $460,000 of construction costs. The refund for the tax paid on exempt items is available to eligible applicants, including the owner or developer of the housing.