Minnesota bill SF2854 provides a refundable exemption for construction materials used in research and development campuses.

Minnesota bill SF2854 amends state statutes to provide a refundable exemption for sales and use tax on construction materials for research and development campuses. The exemption applies to materials and supplies used in the construction or improvement of a research and development campus, a customer experience center, and related facilities, provided the campus has laboratory space of at least 250,000 square feet and the project has a total construction cost of at least $200,000,000 within a 32-month period. The tax must be imposed and collected as if the sale were taxable and then refunded.

Minnesota bill SF2854 provides a refundable exemption for construction materials used in research and development campuses.

Minnesota bill SF2854 amends state statutes to provide a refundable exemption for sales and use tax on construction materials for research and development campuses. The exemption applies to materials and supplies used in the construction or improvement of a research and development campus, a customer experience center, and related facilities, provided the campus has laboratory space of at least 250,000 square feet and the project has a total construction cost of at least $200,000,000 within a 32-month period. The tax must be imposed and collected as if the sale were taxable and then refunded.