Resolution - #09-01-009 - 01/13/2009

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_."",-,,-,..~___,____________~._ _ _.~ __ ___ __:C 1 MINNESOTA STATUTES 2008 116J.993 116J.993 DEFINITIONS. Subdivision 1. Scope. For the purposes of sections 116J.993 to 116J.995, the terms defined in this section have the meanings given them. Subd. 2. Benefit date. "Benefit date" means the date that the recipient receives the business subsidy. If the business subsidy involves the purchase, lease, or donation of physical equipment, then the benefit date begins when the recipient puts the equipment into. service: If the business subsidy is for improvements to property, then the benefit date refers to the earliest date of either: (1) when the improvements are finished for the entire project; or (2) when a business occupies the property. If a business occupies the proR~rty and the 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. c- Su?d. 3. Business subsidy. '1Business subsidy" or "subsidy" means a state or local government agency grant, contribution of personal property, real property, infrastructure, the principal amount of a loan at rates below those commercially available to the recipient, any reduction or deferral of any tax or any fee, any guarantee of any payment under any loan, lease, or . other obligation, or any preferentral use of government facilities given to a business. The following fo~ms of financial assistance are not a business subsidy: (1) a business subsidy ofless.than $150,000; (2) assistance that is generally available to all businesses 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 busin~sses at the time the improvements are made; (4) redevelopment property polluted by contaminants as defined in section 116J.552, subdivision 3; (5) assistance provided for the sole purpose of renovating old or decaying building stock or bringing it up to code and assistance provided for designated historic preservation districts, provided that the assistance is equal to or less than 50 percent of the total cost; (6) assistance to provide job readiness and training services if the sole purpose of the . assistance is to provide those services; (7) assistance for housing; Copyright@2008 by the Revisor of Statutes, State of Minnesota. All Rights Reserved.