Certain property conversion and certain property energy-efficient design tax credits establishment and appropriation

SF 3896 establishes tax credits for property owners in Brooklyn Center who convert eligible vacant or outdated commercial properties into residential or commercial use. It provides a 20% credit for construction costs and a 30% credit for energy-efficient upgrades like solar panels or geothermal systems. To qualify, properties must be in specific Brooklyn Center census tracts, meet vacancy or structural criteria (e.g., less than 50% occupancy or unsafe buildings), and receive city approval. Property owners must apply for credit certificates through the state tax agency, with credits claimable two years after approval.