Minnesota Strategic Industrial Development Enhancement tax credits established for qualified projects.

The bill establishes the Minnesota Strategic Industrial Development Enhancement tax credits for eligible entities. It defines qualifying projects as new construction or expansion in specific locations. Eligible expenditures include land improvements, building construction, and rail infrastructure. The tax credit is 10% of economic development expenditures up to $8 million per project and 50% of infrastructure expenditures up to $4 million per project. The credits can be transferred and carried over to subsequent years if unused. The program expires on January 1, 2035.

Minnesota Strategic Industrial Development Enhancement tax credits established for qualified projects.

The bill establishes the Minnesota Strategic Industrial Development Enhancement tax credits for eligible entities. It defines qualifying projects as new construction or expansion in specific locations. Eligible expenditures include land improvements, building construction, and rail infrastructure. The tax credit is 10% of economic development expenditures up to $8 million per project and 50% of infrastructure expenditures up to $4 million per project. The credits can be transferred and carried over to subsequent years if unused. The program expires on January 1, 2035.