This bill modifies the authority related to the Hennepin County local sales tax and introduces provisions for grants to county health care facilities and the ballpark authority for specific improvements. A key amendment is 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. The bill also allows for grants for capital improvements related to health care facilities and public infrastructure, with specific limitations on the amounts that can be granted.

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 establishes new guidelines for the county's ability to issue revenue bonds for financing health care facilities and related infrastructure, ensuring these bonds do not count against the county's debt limits. Additionally, it clarifies the uses of tax revenues collected under provisions related to the ballpark authority, specifying that revenues can only be used for certain purposes, including costs of collection, payment of bonds, and grants for health care facilities and capital improvements. The bill also establishes a reserve fund for capital improvements to the ballpark and public infrastructure, significantly increasing the required reserve amount, with new provisions taking effect the day after final enactment.

Statutes affected:
Introduction: 473.756, 473.757, 473.759