HF 2247

as introduced - 90th Legislature (2017 - 2018) Posted on 03/08/2017 11:31am

A bill for an act
relating to the city of South St. Paul; providing special tax increment financing
authority.

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

Section 1. new text begin SOUTH ST. PAUL ECONOMIC DEVELOPMENT AUTHORITY;
EXTENSION OF TIME TO ADOPT INTERFUND LOAN RESOLUTION.
new text end

new text begin Notwithstanding Minnesota Statutes, section 469.178, subdivision 7, the governing body
of the South St. Paul Economic Development Authority, successor to the Housing and
Redevelopment Authority in and for the city of South St. Paul, may retroactively approve
a previously established interfund loan for the 4th Avenue Village Tax Increment District
in the city of South St. Paul if the governing body adopts a resolution approving that loan
by August 1, 2017, and if the requirements of Minnesota Statutes, section 469.178,
subdivision 7, are otherwise complied with, the interfund loan authorization is deemed to
satisfy Minnesota Statutes, section 469.178, subdivision 7.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective without local approval under Minnesota
Statutes, section 645.023, subdivision 1, paragraph (a), on the day following final enactment.
new text end