House Approves DMC Fixes with Tax Conformity Bill
Legislation containing some critical revisions to the Destination Medical Center law won unanimous approval in the Minnesota House Thursday afternoon.
The DMC-related provisions were attached to a Tax Conformity bill that was approved by a vote of 129-0. The majority of the measure is dedicated to modifying the state’s tax code to match some recent revisions to the federal tax code and the sponsor, Preston Republican Greg Davids, promised it would move through the House at “warp speed” so it could be on the governor’s desk before the tax filing season begins next week.
The DMC provisions make changes to address a legal opinion issued by the State Attorney General that found the current language in the law would require $12 billion dollars in private investment, instead of the intended $6 billion, to leverage state funding. The measure also clarifies that DMC planning expenses incurred by the city would count toward its DMC contribution.
The Senate version of the bill cleared its final committee Thursday morning and is awaiting action by the full Senate.