HF 1572

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of St. Paul; extending the 
  1.3             duration of a tax increment financing district in the 
  1.4             city. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CITY OF ST. PAUL; DELAY OF DEEMED COMMENCEMENT 
  1.7   OF TAX INCREMENT FINANCING DISTRICT.] 
  1.8      Notwithstanding Minnesota Statutes, section 469.176, or any 
  1.9   other law to the contrary, the duration limit of the Williams 
  1.10  Hill tax increment district in the city of St. Paul is 
  1.11  determined as if the date of receipt of the first tax increment 
  1.12  by the authority occurs when the aggregate of all tax increments 
  1.13  received from the district reaches $2,000. 
  1.14     Sec. 2.  [EFFECTIVE DATE.] 
  1.15     Section 1 is effective upon approval by and compliance with 
  1.16  Minnesota Statutes, section 645.021, subdivision 3, by the 
  1.17  governing body of the city of St. Paul.