Minnesota HF457 proposes a refundable tax credit for converting underutilized buildings, allows grants in lieu of credit, and mandates reports.

Minnesota HF457 proposes a refundable tax credit for converting underutilized buildings into commercial, income-producing, habitable use. It allows grants in lieu of the credit, mandates reports, and proposes a sunset for the credit. The credit or grant is up to 30 percent of qualifying conversion expenses. The bill also establishes a conversion credit administration account and requires annual and five-year reports on the program's economic impact.

Minnesota HF457 proposes a refundable tax credit for converting underutilized buildings, allows grants in lieu of credit, and mandates reports.

Minnesota HF457 proposes a refundable tax credit for converting underutilized buildings into commercial, income-producing, habitable use. It allows grants in lieu of the credit, mandates reports, and proposes a sunset for the credit. The credit or grant is up to 30 percent of qualifying conversion expenses. The bill also establishes a conversion credit administration account and requires annual and five-year reports on the program's economic impact.