This bill amends Minnesota Statutes to increase the maximum outstanding debt allowed for the State Agricultural Society from $30,000,000 to $50,000,000, thereby enhancing its bonding authority to support its corporate purposes. The new legal language specifies that the society may issue negotiable bonds necessary for its operations, including interest payments and reserves. This change will take effect on July 1, 2025.

Additionally, the bill introduces a sales tax exemption for certain sales conducted by the State Agricultural Society at state fairs. Specifically, it exempts admissions and parking at the State Fairgrounds, as well as admissions to separately ticketed events organized by the society, provided these events occur during the regularly scheduled state fair and on the fairgrounds. This exemption will be effective for sales and purchases made after June 30, 2025.

Statutes affected:
Introduction: 37.31, 297A.70