This bill establishes a refundable sales tax exemption for construction materials used in the renovation of the Minneapolis-St. Paul International Airport. Specifically, it exempts materials, supplies, and equipment purchased by contractors or subcontractors for public infrastructure projects at the airport from sales and use tax, provided these purchases occur between July 1, 2023, and January 1, 2028. Refunds for the sales tax will not be available until after July 1, 2025, and the tax will be collected as if the standard rate applied, with refunds processed in accordance with existing statutes.

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, applying to sales and purchases made after June 30, 2023, and before January 1, 2028.