HF 338

as introduced - 87th Legislature (2011 - 2012) Posted on 02/02/2011 09:29am

A bill for an act
relating to tax increment financing; prohibiting establishing new or expanding
existing tax increment financing districts or plans; amending Minnesota Statutes
2010, section 469.175, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2010, section 469.175, is amended by adding a
subdivision to read:

new text begin Subd. 9. new text end

new text begin Termination of authority. new text end

new text begin Notwithstanding sections 469.174 to 469.1794
or any other law to the contrary, an authority must not:
new text end

new text begin (1) request certification of a new tax increment financing district or the addition of
geographic area to an existing tax increment financing district after June 30, 2011; or
new text end

new text begin (2) modify an existing tax increment financing plan in a manner that extends the
duration of a district, expands the activities to be financed within the district, or authorizes
the incurring of additional expenses not included in the plan before May 1, 2011.
new text end