This bill (S.F. No. 2171) proposes a refundable sales and use tax exemption for construction materials, supplies, and equipment used in building new single-family homes for first-time homebuyers in Minnesota. To qualify, the first-time homebuyer must own and occupy the home. The exemption applies to the first $460,000 of construction costs. Initially, the tax must be paid at the regular rate and later refunded according to Minnesota Statutes, section 297A.75. This exemption is set to expire on July 1, 2033.