This bill modifies the authority related to the Hennepin County local sales tax, allowing for grants to county health care facilities and the ballpark authority for specific improvements. A key amendment includes the addition of a new subdivision to Minnesota Statutes 2024, section 473.756, designating the authority as a "qualifying government" for investment management purposes. The county is permitted to distribute up to $24 million annually to a designated private, nonprofit hospital in Hennepin County for uncompensated care, contingent on certain conditions. Furthermore, the bill allows for grants for capital improvements capped at $7 million annually and outlines the use of funds for various health care and public infrastructure projects.

Significant changes include an increase in the sales and use tax rate from 0.15% to 1.0%, exempt from certain administrative rules, and the removal of previous limitations on capital improvement reserves. The bill clarifies the county's authority to acquire property for health care facilities and related infrastructure and establishes guidelines for issuing revenue bonds to finance these projects. It also amends Minnesota Statutes to specify that tax revenues can only be used for certain purposes, including costs of collection, payment of bonds, and grants for health care facilities and capital improvements, while removing broader expenditure provisions. Additionally, a reserve fund for capital improvements to the ballpark and public infrastructure is established, with increased reserve requirements, and conditions for tax termination are outlined. The effective date for these changes is set for the day following final enactment.

Statutes affected:
Introduction: 473.756, 473.757, 473.759