Minnesota Strategic Industrial Development Enhancement tax credits establishment

This bill creates tax credits for businesses in Minnesota to support industrial development and infrastructure. It allows eligible businesses in qualifying locations (like rural counties, industrial parks, or near rail lines) to claim up to 10% of qualifying construction costs ($8 million max) or 50% of new rail infrastructure costs ($4 million max) against state taxes. Projects must apply for credit approval, and total annual credits are capped at $50 million. Unused credits can be carried forward for up to five years or transferred to other Minnesota taxpayers via written agreement.