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<br />1 <br /> <br />MINNESOTA STATUTES 2008 <br /> <br />116J.993 <br /> <br />116J.993 DEFINITIONS. <br /> <br />Subdivision 1. Scope. For the purposes qf sections 116J.993 to 116J.995, the terms defined <br />in this section have the meanings given them. <br /> <br />Subd. 2. Benefit date. "Benefit date" means the date that the r~cipient receives the business <br />. subsidy. If the business subsidy involves the purchase, lease, or donation of physical equipment, <br />then the benefit date begins when the recipient puts the equipment into service. If the business <br />subsidy is for improvements to property, then the benefit date refers to the earliest date of either: <br /> <br />(1) when the improvements are finished for the entire project; or <br /> <br />(2) when a business occupies the property. If a business occupies the prop-~rty and the <br />. . subsidy grantor expects that other businesses will also occupy the same property, the grantor may <br />assign a separate benefit date for each business when it first occupies the property. . <br /> <br />Subd. 3. Business subsidy. "Business subsidy" or "subsidy" means a state or local <br />government agency grant, contribution of p~rsonal property, real property, infrastructure, the <br />principal amount of a loan at rates: below those commercially available to the recipient, any <br />reduction or deferral of any tax or any fee, any guarantee of any payment under any loan, lease, or <br />other obligation, or any preferential use of government facilities given to a business. <br /> <br />Thefollowing forms of financial assistailce are not a business subsidy: <br /> <br />(1) a business subsidy ofless than $150,000; <br /> <br />(2) assistance that is generally available to all businesses or to a general class of similar <br />businesses, such as a line of business, size, location, or similar general criteria; <br /> <br />(3) public improvements to buildings or lands owned by the state or local government <br />that serve a public purpose and do not principally benefit a single business or defined group of <br />businesses at the time the improvements are made; <br /> <br />(4) redevelopment property polluted by contaminants as defined in section 1161.552, <br />subdiVIsion 3; <br /> <br />. (5) assistance provided for the sole purpose of renovating old or decaying building stock <br />or bringing. it up to code and assistance provided for designated historic preservation districts, <br />provided that the assistance is equal to or less than 50 percent ofthe tqtal cost; <br /> <br />(6) assistance to provide job readiness and training services if the sole purpose of the . <br />assistance is to provide those services; <br /> <br />(7) assistance for housing; <br /> <br />.I <br /> <br />Copyright @ 2008 by the Revisor. of Statutes, State of Minnesota. All Rights Reserved. <br /> <br />39 <br />