This bill amends Minnesota Statutes to provide a refundable sales tax exemption for construction materials used in the development of certain research and development campuses and customer experience centers. Specifically, it introduces a new subdivision under section 297A.71, which states that materials and supplies used in the construction or improvement of these facilities are exempt from sales tax if the campus has at least 250,000 square feet of laboratory space and the total construction cost is at least $200 million within a 32-month period. The tax will be collected as if it were taxable and then refunded, with the exemption set to expire on March 1, 2028. The effective date for this exemption applies to sales and purchases made after June 30, 2025.

Additionally, the bill updates section 297A.75 to include the new exemption for research and development campuses in the list of items for which tax must be collected and later refunded. It also specifies that the developer of the building or project is eligible to apply for the refund related to this new exemption. The effective date for these amendments is also set for sales and purchases made after June 30, 2025. Overall, the bill aims to incentivize investment in research and development infrastructure in Minnesota by providing significant tax relief for qualifying projects.

Statutes affected:
Introduction: 297A.71, 297A.75