Letter: New legislation helps Greater Minnesota cities
On Tuesday, a House/Senate compromise proposal that provides tax relief and creates jobs was approved in the Minnesota House. Having worked very closely with the Coalition of Greater Minnesota Cities and fighting for its priorities in this legislation, I'm very pleased with the final product.
The Coalition of Greater Minnesota Cities fought for three provisions in the compromise proposal. The first initiative increases the cap on the Angel Investment Credit, which provides incentives to investors that put money into startup and emerging companies focused on high or new proprietary technology, by $4.5 million for the duration of the program.
The second provides grants for businesses who participate in a Greater Minnesota Internship program, and the third provision allows Minnesota cities with populations less than five thousand to receive either their paid 2012 Local Government Aid (LGA), or certified 2013 LGA, whichever amount is greater. All three proposals were included in the approved legislation.
The bill also provides a property freeze for Main Street businesses, increased property tax relief for homeowners, and creates a veterans jobs tax credit that will help encourage businesses to hire those who have fought for our country.
Our goal is to create jobs and put more people to work, and we're attempting to do this by giving private sector job creators more resources and incentives to expand their workforce.
I'm not sure if Governor Dayton will sign the legislation, so I urge job providers and property taxpayers to contact the Governor and ask him to support the legislation. I also thank members of the Coalition of Greater Minnesota Cities, particularly President Alan Oberloh, for their hard work on the plan.
As session winds down, I remain hopeful the Legislature will debate a capital investment bill as well as a Vikings stadium before we adjourn for the year.