Tax reduction authority modifications

This bill modifies Minnesota's tax reduction authority for businesses operating in border city enterprise zones, directly affecting local governments and companies in cities like Breckenridge, Dilworth, East Grand Forks, Moorhead, and Ortonville. Key provisions include increasing the income tax credit for hiring employees from $3,000 to $5,000 per year, adding a new reimbursement option for land acquisition costs to prevent business relocation, and allowing the commissioner to allocate $2 million for tax reductions based on population. The legislation also removes certain restrictions on eligible properties, such as those owned by financial institutions and fraternal organizations, while maintaining exclusions for recreational facilities, public utilities, and franchised food and beverage businesses. Additionally, the bill expands the flexibility for cities to designate development zones by allowing them to designate all or any part of the city rather than limiting the number or size of designated areas.