The bill proposes amendments to Minnesota Statutes regarding taxation and the financial authority of the State Agricultural Society. It increases the maximum amount of outstanding debt that the society can issue from $30,000,000 to $50,000,000, allowing for greater financial flexibility to support its operations. This change is effective from July 1, 2025.

Additionally, the bill introduces a sales tax exemption for certain sales made by the State Agricultural Society, specifically for admissions and parking at the State Fairgrounds, as well as admissions to separately ticketed events organized by the society. However, this exemption does not apply to events held outside the regular state fair schedule or at locations other than the State Fairgrounds. This provision will take effect for sales and purchases made after June 30, 2025.

Statutes affected:
Introduction: 37.31, 297A.70