1.1 	A bill for an act
1.2 	relating to economic development; providing an
1.3 	exemption from prevailing wage requirements for
1.4 	qualified businesses in job opportunity building
1.5 	zones; amending Minnesota Statutes 2004, section
1.6 	469.315.
1.7 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.8 	Section 1. Minnesota Statutes 2004, section 469.315, is
1.9 	amended to read:
1.10 	469.315  TAX INCENTIVES AVAILABLE IN ZONES.
1.11 	Qualified businesses that operate in a job opportunity
1.12 	building zone, individuals who invest in a qualified business
1.13 	that operates in a job opportunity building zone, and property
1.14 	located in a job opportunity building zone qualify for:
1.15 	(1) exemption from individual income taxes as provided
1.16 	under section 469.316;
1.17 	(2) exemption from corporate franchise taxes as provided
1.18 	under section 469.317;
1.19 	(3) exemption from the state sales and use tax and any
1.20 	local sales and use taxes on qualifying purchases as provided in
1.21 	section 297A.68, subdivision 37;
1.22 	(4) exemption from the state sales tax on motor vehicles
1.23 	and any local sales tax on motor vehicles as provided under
1.24 	section 297B.03;
1.25 	(5) exemption from the property tax as provided in section
1.26 	272.02, subdivision 64;
2.1 	(6) exemption from the wind energy production tax under
2.2 	section 272.029, subdivision 7; and 
2.3 	(7) the jobs credit allowed under section 469.318; and 
2.4 	(8) exemption from the prevailing wage rate as required by
2.5 	section 116J.871 and defined under section 177.42, subdivision 6.