Business 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 preferential use of government facilities given to a business, and as defined by the Business Subsidy Act.
Business Subsidy means tax exemptions or tax credits available to a qualified business located in a job zone, and or 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 preferential use of government facilities given to a business, and as defined by the Business Subsidy statute.
Business Subsidy or “Subsidy” means the tax exemptions provided by the City to the Developer pursuant to the BCDZ Act as outlined in Section 3.
Examples of Business Subsidy in a sentence
Exemption from Metropolitan Council review; Business Subsidy Act.
The report must comply with Section 116J.994, subdivision 7 of the Business Subsidy Act.
The provisions of this Section constitute the “business subsidy agreement” for the purposes of the Business Subsidy Act.
Unless an exception to the Business Subsidy Law applies, tax abatement will be considered a business subsidy.
Some of the data provided by the applicant to the City as part of the application for a Business Subsidy may be required to be disclosed if requested pursuant to the Minnesota Government Data Practices Act.
More Definitions of Business Subsidy
Business Subsidy or "subsidy" means a state or local government agency grant,
Business Subsidy or "subsidy" means a state or local government agency grant, a contribution of personal property, real property, or infrastructure, the principal amount of a loan at rates below those commercially available to the recipient, a reduction or deferral of any tax or fee, a guarantee of payment under loan, lease, or other obligation, or any preferential use of government facilities given to a business. “Local government agency" includes a county, a city or town, a housing authority, a port authority, an
Business 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 preferential use of government facilities given to a business, and as defined by the Business Subsidy statute Minnesota Statute §116J.993 - §116J.995. Any grant must be structured as a forgivable loan. For any business subsidy other than a grant, the fair market value of the subsidy including the value of conveying property at less than a fair market price or other in kind benefit.
Business Subsidy means the term as defined by Minnesota Statutes, Section 116J.993, Subdivision 3; Business Subsidy Law means Minnesota Statutes, Section 116J.993 through 116J.995; City means the City of Xxxxxx, Minnesota; County means Otter Tail County, Minnesota; Development District means Development District No. 2, including the real property described in the Development Program;
Business Subsidy or "subsidy" means a state or local
Business Subsidy or "subsidy" means a grant; contribution of personal property, real property, or 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 preferential use of government facilities given to a business by a state or county agency. The term "business subsidy" or "subsidy shall not include:
Business 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 preferential use of government facilities given to a business, and as defined by the Business Subsidy statute M.S. §§ 116J.993 - 116J.995. Business Subsidies do not include the following: Assistance of less than $150,000.Business loans or loan guarantees of $150,000 or lessFederal loan funds provided through the U.S. Economic Development Administration.Assistance that is generally available to all businesses or to a general class of similar businesses, such as a line of businesses, size, location or similar general criteria;Public improvements to buildings or lands owned by the City of Hutchinson 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;Property polluted by contaminants being redeveloped as defined in M.S. § 116J.552, subd. 3.Assistance provided for the sole purpose of renovating old or decaying building stock or bringing it up to code and assistance to designated historic preservation sites or districts, provided that the assistance is equal to or less than 50% of the total cost of the development;Assistance to provide job readiness and training services;Assistance for housing;Assistance for pollution control or abatement, including assistance from a TIF hazardous substances sub-district;Assistance for energy conservation;Tax reductions resulting from conformity with federal tax law;Workers compensation and unemployment compensation;Benefits derived from regulation;Indirect benefits derived from assistance to educational institutions;Funds from bonds allocated under M.S., Chapter 47A refunding bonds and 501(c)(3) bonds;Assistance for collaboration between a Minnesota higher education institution and a business;Assistance from a tax increment financing soils condition district as defined under M.S.469.174, subd.19;Redevelopment when the Recipients or Qualified Business’ investment in the purchase of the site and in site preparation is 70 percent or more of the assessor’s current years estimated market value;General changes in tax increment financing law and other general tax law changes of a principally technical nature;Fed...