Income and corporate franchise taxes; second assignment of historic structure rehabilitation credit allowed, and requirements for issuing allocation certificates modified.

HF 2142 modifies Minnesota's historic structure rehabilitation tax credit program to allow a second assignment of credit certificates. Previously, credit certificates could only be assigned once to another taxpayer; this bill permits the initial recipient or first assignee to transfer the credit to a second assignee. The bill requires any assignment (including the second) to be reported to the state commissioner within 30 days. This change directly affects developers and taxpayers involved in historic rehabilitation projects who use the credit for financing, making it easier to secure project funding through multiple credit transfers.