Resolution No. EDA 02-01 - Laserfiche WebLink

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• APPENDIX 1 EXEMPTIONS FROM THE BUSINESS SUBSIDY ACT The Business Subsidy, Act at section 116j.993, subdivision 3, exempts the following forms of financial assistance from the limitations of the Act: 1. A Business subsidy of less than $25,000; 2. Assistance that is generally available to all business or to a general class of similar businesses, such as a line of business, size, location, or similar general criteria; 3. Public improvements to buildings or lands owned by the state or local government that serve a public purpose and do not principally benefit a single business or defined group of businesses at the time the improvements are made; 4. Redevelopment property polluted by contaminants as defined in section 116j.662, subdivision 3; 5. Assistance provided for the sole purpose of renovating old or decaying building stock or bringing it up to code,provided that the assistance is equal to or less than 50 percent of the total cost; 6. Assistance provided to organizations whose primary mission is to provide job readiness and training services if the sole purpose of the assistance is to provide those services 7. Assistance for housing; 8. Assistance for pollution control or abatement; 9. Assistance for energy conservation; 10. Tax reductions resulting from conformity with federal tax law; 11. Workers' compensation and unemployment compensation; 12. Benefits derived from regulation; 13. Indirect benefits derived from assistance to educational institutions; 14. Funds from bonds allocated under chapter 474A(qualified tax exempt bonds); 15. Assistance for the collaboration between a Minnesota higher education institution and a business; 16. Assistance for a tax increment financing soils condition district as defined under section 469.174, subdivision 19 (pollution clean-up); 17. Redevelopment when the recipient's investment in the purchase of the site and in site preparation is 70 percent or more of the assessor's current year's estimated market value; and 18. General changes in tax increment financing law and other general tax law changes of a principally technical nature.