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HF 1562

as introduced - 90th Legislature (2017 - 2018) Posted on 02/22/2017 11:51am

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

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8 1.9 1.10 1.11
1.12 1.13 1.14

A bill for an act
relating to taxation; tax increment financing; extending the five-year rule for a tax
increment financing district.

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

Section 1. new text begin CITY OF RICHFIELD; 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, are considered to be met for the Lyndale Gardens Tax Increment Financing
District established by the city of Richfield and the housing and redevelopment authority
in and for the city of Richfield if the activities are undertaken within eight years from the
date of certification.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This act is effective upon the city of Richfield's compliance with
the requirements of Minnesota Statutes, sections 469.1782, subdivision 2, and 645.021,
subdivisions 2 and 3.
new text end