This bill establishes a refundable sales and use tax exemption for materials and supplies used in construction projects within designated redevelopment districts in St. Cloud, Minnesota. Specifically, it exempts materials and equipment incorporated into private redevelopment projects on certain identified parcels, provided that the resulting developments are subject to property taxes. The bill outlines the specific tax identification numbers of the parcels eligible for this exemption and stipulates that the exemption applies to sales and purchases made between July 1, 2025, and December 31, 2040.

Additionally, the bill includes provisions for the appropriation of funds to cover the refunds associated with this exemption, capping the total refunds at $13,000,000. The refunds will be processed in the order that complete applications are received by the commissioner of revenue. The effective date of this legislation is set for the day following its final enactment.