HF 1787

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:54am

A bill for an act
relating to taxation; tax increment financing; allowing city of North St. Paul an
extension of the five-year rule for two districts.

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

Section 1. new text begin CITY OF NORTH ST. PAUL; 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 Old City Hall (4-3) and
Charles Street (4-4) tax increment financing districts in the city of North St. Paul if the
activities are undertaken within ten years from the date of certification of the districts.
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 North St. Paul with the requirements of Minnesota Statutes, section
645.021.
new text end