MHTA – MHTA’s hard work this session is beginning to bear fruit. Many of the provisions MHTA is advocating were included in the omnibus bills that emerged last week.
The House released its 2012 bonding bill that spends $280 million primarily focused on maintaining Minnesota’s existing infrastructure. However, several projects MHTA is supporting are included: funding for the Itasca Biological Station, St. Paul College Health and Science Alliance Center design, and renovations for STEM programs on nine campuses.
The Governor included these projects plus the North Hennepin Community College Bioscience and Health Careers addition and Southwest Minnesota State University Science Lab renovation design in his $775 million bill. The Senate Capital Investment Committee will be releasing its bill tomorrow.
The Senate Omnibus Tax Jobs Bill that passed out of committee on Thursday included several provisions MHTA has been advocating for this session. Like the House Tax Bill, it included a phase-in of the capital equipment upfront sales tax exemption and an appropriation for the Angel Investment Tax Credit. Amendments were adopted that decrease the additional Angel Tax Credit appropriation to $2 million and require that 40 percent of the tax credits be spent for investments in Greater Minnesota companies. MHTA was successful in amending changes to the existing data center capital equipment refund to lower the investment minimum and lengthen the investment timeframe. MHTA will be monitoring these and other differences from the House bill and weighing in during conference committee.
Legislators are working diligently to conclude their work by the end of April, but much work remains to be done.