Bill
HF 3028
Overview: HF 3028, St. Cloud; refundable sales and use tax exemption provided for materials used in construction projects in redevelopment districts.Status: Introduction and first
Overview: HF 3028, St. Cloud; refundable sales and use tax exemption provided for materials used in construction projects in redevelopment districts.
Status: Introduction and first reading, referred to Taxes
Introduced: April 01, 2025
Purpose and Intent: This bill aims to incentivize economic development and revitalization in the city of St. Cloud by providing a refundable sales and use tax exemption for construction materials used in redevelopment projects within designated districts.
Key Provisions:
- Establishes a refundable sales and use tax exemption for construction materials used in qualifying redevelopment projects in St. Cloud
- Requires the city to designate specific redevelopment districts eligible for the tax exemption
- Limits the total amount of refundable taxes that can be claimed under the program to $5 million per year
Affected Parties and Impacts:
- Construction companies and developers undertaking redevelopment projects in St. Cloud would benefit from the sales tax savings
- The city of St. Cloud would aim to spur economic growth and revitalization in targeted areas through the tax incentive
- The state government would forgo a portion of sales tax revenue from the exempted construction materials
Procedural and Timeline Considerations:
The bill has been introduced and referred to the Taxes committee for further review. If passed, the sales and use tax exemption would go into effect upon enactment and remain in place until the $5 million annual cap is reached.
Compiled from official sources — confirm details with the bill’s official record.
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