HF 676

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:40am

A bill for an act
relating to taxation; tax increment financing; allowing the city of Columbia
Heights an extension of the five year rule for a district.

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

Section 1. new text begin CITY OF COLUMBIA HEIGHTS; 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 the K-mart/Central Avenue
Tax Increment Financing District in the city of Columbia Heights 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 Columbia Heights with the requirements of Minnesota Statutes, section
645.021.
new text end