Modifies tax reduction authority for border city enterprise zones in Minnesota.
The bill modifies tax reduction authority for businesses in border city enterprise zones in Minnesota. It removes restrictions on tax reductions for certain facilities and properties, including recreation and entertainment facilities, public utilities, and financial institutions. The bill also allows for tax reductions for border city enterprise zones and provides for the allocation of funds for tax reductions. The changes are effective for taxable years beginning after December 31, 2025.
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