HF 1879

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:56am

A bill for an act
relating to taxation; the city of Mound; tax increment financing.

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

Section 1. new text begin CITY OF MOUND; 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 Mound Harbor Tax
Increment Financing District administered by the Housing and Redevelopment Authority
in and for the city of Mound if the activities are undertaken within ten years from the
date of certification of the district.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin The section is effective upon compliance by the governing
body of the city of Mound with the requirements of Minnesota Statutes, section 645.021.
new text end