Minneslate Logo

SF542 (Legislative Session 94 (2025-2026))

St. Louis County certain housing development projects construction materials refundable exemption and appropriation

Related bill: HF442

AI Generated Summary

Senate File No. 542 is a legislative proposal designed to encourage housing development projects in St. Louis County, Minnesota. The bill aims to provide financial relief by offering a refundable sales tax exemption on construction materials, supplies, and equipment used in certain housing construction projects. To qualify, the projects must begin after June 30, 2025, and be completed before July 1, 2027. The types of housing developments eligible for this exemption include:

  1. Apartment developments with at least 20 units.
  2. Condominium developments with at least 40 units.
  3. Townhome developments with at least 40 units.

The bill outlines that taxes will be initially collected as usual but will later be refunded under specified guidelines. The necessary funds for these refunds will be sourced from the state's general fund and managed by the commissioner of revenue. This measure aims to stimulate construction activity, increase housing availability, and support economic growth in the specified region.

Bill text versions

Actions

DateChamberWhereTypeNameCommittee Name
January 22, 2025SenateFloorActionIntroduction and first reading
January 22, 2025SenateFloorActionReferred toTaxes

Citations

 
[
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "Specifies that the sales tax exemption for construction materials will be calculated as though sections 297A.62 subdivisions 1 and 1a apply, and refunded accordingly.",
      "modified": []
    },
    "citation": "297A.62"
  },
  {
    "analysis": {
      "added": [],
      "removed": [],
      "summary": "The method of refund for eligible construction materials aligns with Minnesota Statutes section 297A.75 subdivision 1 clause 17.",
      "modified": []
    },
    "citation": "297A.75"
  }
]

Sponsors