Minnesota bill increases tax reduction allocations for border city enterprise zones and modifies tax reduction authority.

Minnesota bill HF2931 increases the annual allocation for tax reductions to border city enterprise zones from $750,000 to $1,500,000. The allocation is distributed among cities on a per capita basis. The bill also modifies tax reduction authority by removing certain restrictions and expanding the types of tax reductions that can be approved. These include credits against income tax for workers employed in the zone, state-paid property tax credits for commercial or industrial facilities, and reimbursements for land acquisition costs for business expansion.

Minnesota bill increases tax reduction allocations for border city enterprise zones and modifies tax reduction authority.

Minnesota bill HF2931 increases the annual allocation for tax reductions to border city enterprise zones from $750,000 to $1,500,000. The allocation is distributed among cities on a per capita basis. The bill also modifies tax reduction authority by removing certain restrictions and expanding the types of tax reductions that can be approved. These include credits against income tax for workers employed in the zone, state-paid property tax credits for commercial or industrial facilities, and reimbursements for land acquisition costs for business expansion.