Minnesota SF3896 establishes tax credits for converting underutilized property and for energy-efficient design of certain property.

Minnesota SF3896 establishes tax credits for converting underutilized property and for energy-efficient design of certain property. It defines eligible property as property located in a qualifying census tract that is exempt from taxation, vacant or undeveloped, or contains a structurally substandard building. Qualified property is eligible property that is reclassified or retains its classification. The bill allows credits for qualified construction expenditures and qualified sustainable investment expenditures, with specific requirements for claiming these credits.

Minnesota SF3896 establishes tax credits for converting underutilized property and for energy-efficient design of certain property.

Minnesota SF3896 establishes tax credits for converting underutilized property and for energy-efficient design of certain property. It defines eligible property as property located in a qualifying census tract that is exempt from taxation, vacant or undeveloped, or contains a structurally substandard building. Qualified property is eligible property that is reclassified or retains its classification. The bill allows credits for qualified construction expenditures and qualified sustainable investment expenditures, with specific requirements for claiming these credits.