This bill proposes a sales tax exemption for construction materials used in specific housing development projects within St. Louis County, Minnesota. The exemption applies to materials and supplies used in the construction, reconstruction, upgrade, expansion, renovation, or remodeling of apartment developments with at least 100 units, condominium developments with at least 60 units, and townhome developments with at least 40 units. To qualify, these materials must be purchased between July 1, 2024, and June 30, 2026. The tax will be collected at the standard rate but will be refunded in accordance with existing provisions for similar projects.

Additionally, the bill includes an appropriation from the general fund to the commissioner of revenue to cover the refunds associated with this exemption. The effective date of this legislation is set for the day following its final enactment.