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CCP 10-26-2010
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CCP 10-26-2010
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Ch. 216 LAWS of MINNESOTA for 2010 36 <br />including construction iobs, and that the construction commences before Julv 1, 2011, and <br />would not have commenced before that date without the assistance: or <br />2) to make an equity or similar investment in a corporation, partnership, or limited <br />liability company that the authority determines is necessary to make construction of a <br />development that meets the requirements of clause (1) financially feasible. <br />(b) The authority may undertake actions under the authority of this subdivision only <br />after approval by the municipality of a written spending plan that specifically authorizes <br />the authority to take the actions. The municipality shall approve the spending plan only <br />after a public hearing after published notice in a newspaper of general circulation in <br />the municipality at least once, not less than ten days nor more than 30 days prior to the <br />date of the hearing. <br />(c) The authoritv to spend tax increments under this subdivision expires December <br />31, 2011. <br />EFFECTIVE DATE. This section is effective the day following final enactment <br />and applies to tax increments derived from a district, regardless of when the request for <br />certification was made. <br />Sec. 33. Minnesota Statutes 2008, section 469.310, subdivision 6, is amended to read: <br />Subd. 6. Job opportunity building zone or zone. "Job opportunity building zone" <br />or "zone" means a zone designated by the commissioner under section 469.314, and <br />includes an agricultural processing facility zone and a create automotive recovery zone. <br />EFFECTIVE DATE. This section is effective the day following final enactment. <br />Sec. 34. Minnesota Statutes 2008, section 469.310, subdivision 11, is amended to read: <br />Subd. 11. Qualified business. (a) A person carrying on a trade or business at a place <br />of business located within a job opportunity building zone is a qualified business for the <br />purposes of sections 469.310 to 469.320 according to the criteria in paragraphs (b) to (f). <br />(b) A person is a qualified business only on those parcels of land for which the <br />person has entered into a business subsidy agreement, as required under section 469.313, <br />with the appropriate local government unit in which the parcels are located. <br />(c) Prior to execution of the business subsidy agreement, the local government <br />unit must consider the following factors: <br />(1) how wages compare to the regional industry average; <br />(2) the number of jobs that will be provided relative to overall employment in the <br />community; <br />(3) the economic outlook for the industry the business will engage in; <br />(4) sales that will be generated from outside the state of Minnesota; <br />(5) how the business will build on existing regional strengths or diversify the <br />regional economy; <br />(6) how the business will increase capital investment in the zone; and <br />(7) any other criteria the commissioner deems necessary. <br />Copyright 0 2010 by the Office of the Revisor of Statutes, State of Minnesota. All Rights Reserved. <br />
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