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HF 709

as introduced - 90th Legislature (2017 - 2018) Posted on 02/01/2017 11:12am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to taxation; tax increment financing; extending a tax increment financing
district in the city of Richfield.

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

Section 1. new text begin CITY OF RICHFIELD; EXTENSION OF DISTRICT.
new text end

new text begin Notwithstanding Minnesota Statutes, section 469.176, subdivision 1b, or any other law
to the contrary, the city of Richfield and the Housing and Redevelopment Authority in and
for the city of Richfield may elect to extend the duration limit of the redevelopment tax
increment financing district known as the Cedar Avenue Tax Increment Financing District
established by Laws 2005, chapter 152, article 2, section 25, by 12 years.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon compliance by the city of Richfield,
Hennepin County, and Independent School District No. 280 with the requirements of
Minnesota Statutes, sections 469.1782, subdivision 2, and 645.021, subdivisions 2 and 3.
new text end