HF 1698

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to the port authority of Winona; extending
the duration of a tax increment district.

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

Section 1. new text begin EXTENSION OF DURATION OF TAX INCREMENT
DISTRICT.
new text end

new text begin Subdivision 1. new text end

new text begin Duration. new text end

new text begin Notwithstanding the provisions
of Minnesota Statutes, section 469.176, subdivision 1b, the
duration of riverfront tax increment financing district number
2, approved by the port authority of Winona on July 15, 1980, is
extended to December 31, 2020. Any tax increment received after
December 31, 2005, must be used solely to pay capital and
administrative costs of transportation improvements related to
the Pelzer Street project.
new text end

new text begin Subd. 2. new text end

new text begin Exception. new text end

new text begin The provisions of Minnesota
Statutes, section 469.1782, subdivision 2, do not apply to this
section.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon approval
by the governing body of the port authority of Winona and
compliance with Minnesota Statutes, section 645.021.
new text end