Minnesota SF2178 provides a refundable construction exemption for building new multifamily residential housing for first-time homebuyers.

Minnesota SF2178 amends the state's sales and use tax laws to provide a refundable construction exemption for building new multifamily residential housing for first-time homebuyers. This exemption applies to materials and supplies used in the construction of duplexes and triplexes, with the first-time homebuyer required to own and occupy at least one unit. The exemption is limited to the taxes paid on the first $460,000 of the construction cost. The tax on purchases exempt under this provision must be imposed and collected as if the sale were taxable and then refunded.

Minnesota SF2178 provides a refundable construction exemption for building new multifamily residential housing for first-time homebuyers.

Minnesota SF2178 amends the state's sales and use tax laws to provide a refundable construction exemption for building new multifamily residential housing for first-time homebuyers. This exemption applies to materials and supplies used in the construction of duplexes and triplexes, with the first-time homebuyer required to own and occupy at least one unit. The exemption is limited to the taxes paid on the first $460,000 of the construction cost. The tax on purchases exempt under this provision must be imposed and collected as if the sale were taxable and then refunded.