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05/16/99 6:21 p.m. [RESDEPT ] JF KB56 <br /> • <br /> 1 ARTICLE 17 <br /> 2 BUSINESS SUBSIDIES <br /> 3 Section 1. [116J.993] [DEFINITIONS.] <br /> 4 Subdivision i. [SCOPE.] For the purposes of sections <br /> 5 116J.993 to 116J.996, the terms defined in this section have the <br /> Alli6 meanings given them. <br /> 7 Subd. 2. [BENEFIT DATE.]• "Benefit date" means the date <br /> 8 that the recipient receives the business subsidy. If the <br /> 9 business subsidy involves the purchase, lease, or donation of <br /> 10 physical equipment, then the benefit date begins when the <br /> 11 recipient puts the equipment into service. If the business <br /> 12 subsidy is for improvements to property, then the benefit date <br /> 13 ' refers to the earliest date of either: <br /> 14 ' (1) when the improvements are finished for the entire <br /> 15 project; or <br /> 16 (2) when a business occupies the property. If a business <br /> 17 occupies the property and the subsidy grantor expects that other <br /> 18 businesses will also occupy the same property, the grantor may <br /> 19 assign a separate benefit date for each business when it first <br /> 20 occupies the property. <br /> 21 Subd. 3. [BUSINESS SUBSIDY.] "Business subsidy" or <br /> ai2 <br /> 2 "subsidy" means a state or local government agency grant, <br /> 3 contribution of personal property, real property, <br /> 24 infrastructure, the principal amount of a loan at rates below <br /> 1 <br />