Small business income tax investment credit requirements modified, and credit allocation extended.

HF 2723 modifies Minnesota's Small Business Income Tax Investment Credit program to extend its availability and adjust eligibility rules. It requires qualifying businesses to pay employees 175% of the federal poverty guideline for a family of four (with adjustments for part-time work), maintain at least 51% of employees and payroll in Minnesota, and avoid certain industries like real estate or retail. The bill extends the credit allocation period and updates certification procedures, directly affecting small Minnesota businesses in high-tech, agriculture, or manufacturing sectors that meet these new wage and location requirements.