This bill proposes a refundable sales and use tax exemption for construction materials and supplies used in the development of a regional exhibition center at Graham Park in Olmsted County. Specifically, it stipulates that materials and equipment purchased for this purpose will be exempt from sales and use tax if acquired between January 1, 2025, and December 31, 2027. The tax will initially 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 retroactive for sales and purchases made within the specified timeframe, ensuring that the exemption applies to eligible transactions occurring after December 31, 2024, and before January 1, 2028.