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HF 2347

as introduced - 93rd Legislature (2023 - 2024) Posted on 03/30/2023 02:49pm

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to taxation; providing special tax increment financing authority to the city
of Ramsey; amending Laws 2021, First Special Session chapter 14, article 9,
section 10.

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

Section 1.

Laws 2021, First Special Session chapter 14, article 9, section 10, is amended
to read:


Sec. 10. CITY OF RAMSEY; TAX INCREMENT FINANCING DISTRICT NO.
14; FIVE-YEAR RULE EXTENSION.

(a) The requirement 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 extended by a deleted text begin two-yeardeleted text end new text begin five-yearnew text end period to November 28, deleted text begin 2023deleted text end new text begin 2026new text end ,
for Tax Increment Financing District No. 14 administered by the city of Ramsey.

(b) The requirements of Minnesota Statutes, section 469.1763, subdivision 4, relating
to the use of increment after the expiration of the five-year period under Minnesota Statutes,
section 469.1763, subdivision 3, is extended to the deleted text begin 13thdeleted text end new text begin 16thnew text end year for Tax Increment
Financing District No. 14.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after the governing body of the
city of Ramsey and its chief clerical officer comply with section 645.021, subdivisions 2
and 3.
new text end