HF 2549

Introduction - 83rd Legislature (2003 - 2004)

Posted on 12/15/2009 12:00 a.m.

  1.1                          A bill for an act 
  1.2             relating to biotechnology and health science industry 
  1.3             zones; authorizing designation of additional zones for 
  1.4             nanotechnology; proposing coding for new law in 
  1.5             Minnesota Statutes, chapter 469. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [469.3341] [NANOTECHNOLOGY ZONES.] 
  1.8      Subdivision 1.  [AUTHORITY TO DESIGNATE.] In addition to 
  1.9   the designation authorized under section 469.334, the 
  1.10  commissioner, in consultation with the commissioner of revenue, 
  1.11  may designate two biotechnology and health science industry 
  1.12  facility zones for nanotechnology projects, one within the 
  1.13  metropolitan area as defined in section 473.121, subdivision 2, 
  1.14  and one outside of the metropolitan area.  In making the 
  1.15  designations, the commissioner shall consider the need and 
  1.16  likelihood of success of the proposed projects.  The 
  1.17  commissioner may designate a zone at any time upon application 
  1.18  for a qualifying nanotechnology project. 
  1.19     Subd. 2.  [QUALIFYING NANOTECHNOLOGY PROJECTS.] (a) A 
  1.20  qualified nanotechnology project means a qualified business 
  1.21  that, at the zone location, is primarily engaged in research and 
  1.22  development of nanotechnology that advances knowledge and 
  1.23  understanding of physical, chemical, and biological properties 
  1.24  of nanoscale materials and systems at the atomic, molecular, or 
  1.25  supramolecular level, or creates improved materials, devices, or 
  2.1   systems through nanotechnologies, including, but not limited to, 
  2.2   the following applications: 
  2.3      (1) nanostructured materials by design; 
  2.4      (2) manufacturing at the nanoscale; 
  2.5      (3) detection of and protection from chemical, biological, 
  2.6   radiological, or explosive substances; 
  2.7      (4) nanoscale instrumentation and metrology; 
  2.8      (5) nanoelectronics, nanophotonics, and nanomagnetics; 
  2.9      (6) health care, therapeutics, and diagnostics; 
  2.10     (7) microcraft and robotics; or 
  2.11     (8) nanoscale processes for environmental improvement. 
  2.12     (b) For purposes of this section, a qualified business need 
  2.13  not carry on its trade or business at a biotechnology and health 
  2.14  sciences industry facility. 
  2.15     Subd. 3.  [APPLICATION OF BIOTECH ZONE RULES.] Except as 
  2.16  otherwise specifically provided in this section, sections 
  2.17  469.330 to 469.341 apply to zones designated under this section 
  2.18  for nanotechnology projects, including the limitations on the 
  2.19  amount of tax credits and exemptions under section 469.335. 
  2.20     Subd. 4.  [RESEARCH CREDIT DEFINITION.] For purposes of the 
  2.21  research credit under section 469.339, "qualified research" 
  2.22  means activities in the fields of nanotechnology that are 
  2.23  qualified research as defined in section 41(d) of the Internal 
  2.24  Revenue Code, except that the term does not include qualified 
  2.25  research conducted outside the zone. 
  2.26     [EFFECTIVE DATE.] This section is effective the day 
  2.27  following final enactment.