Agenda - Council - 01/13/2009 - Laserfiche WebLink

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116J.993 1 MINNESOTA STATUTES 2008 116J.993 DEFINITIONS. Subdivision 1. Scope. For the purposes of sections 1167.993 to 116J.995, the terms defined in this section have the meanings given them• recipient receives the business Subd. 2. Benefit date. "Benefit date" means the date that the p subsidy. If the business subsidy involves the purchase, lease, or donation o f p ey if ical the q u p t, t the benefit date begins when the recipient puts the equipment into sid is for improvements to property, then the benefit date refers to the earliest date of either: sub y (1) when the improvements are finished for the entire project; or and the (2) when a business occupies the property. If a business occupies the property subsidy grantor expects that other businesses will also occupy the same property, the grantor may assign a separate benefit date for each business when it first occupies the property. Subd. 3. Business subsidy. 'Business subsidy" or "subsidy" means a state , the nm goverent agency grant, ant, contribution of personal property, real property, principal amount of a loan at rates below those commercially available to the recipie any or fee, any or deferral of any tax or any Y � arantee of any payment under any other obligation, or any preferential use of government facilities given to a business. The following forms of financial assistance are not a business subsidy: (1) a business subsidy of less than $150,000; general class of similar (2) assistance that is generally available to all businesses or to a g 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 go egroup t of that serve a public purpose and do not principally benefit a single business or defined businesses at the time the improvements are made; (4) redevelopment property polluted by contaminants as defined in section 1167.552, subdivision 3; (5) assistance provided for the sole purpose of renovating old or decaying building stock or . bringing it tip to code and assistance provided for designated historic p s districts, provided that the assistance is equal to or less than 50 percent of the total purpose of the (6) assistance to provide job readiness and training services if the sole pure assistance is to provide those services; (7) assistance for housing; -192- Copyright © 2008 by the Revisor of Statutes, State of Minnesota. All Rights Reserved.