HF 2886

as introduced - 88th Legislature (2013 - 2014) Posted on 03/10/2014 01:10pm

A bill for an act
relating to taxation; tax increment financing; extending the five-year rule for
TIF District 2-5 in the city of Eagan.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1. new text begin CITY OF EAGAN; TAX INCREMENT FINANCING.
new text end

new text begin The requirements of Minnesota Statutes, section 469.1763, subdivision 3, that
activities must be undertaken within a five-year period from the date of certification of a tax
increment financing district, is considered to be met for TIF District 2-5 in the city of Eagan
if the activities are undertaken within ten years from the date of certification of the district.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon compliance by the governing
body of the city of Eagan with the requirements of Minnesota Statutes, section 645.021,
subdivisions 2 and 3.
new text end