HF 2438

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

A bill for an act
relating to taxation; providing that property located within certain tax increment
financing districts in the city of Centerville is not commercial industrial property
for purposes of metropolitan revenue distribution.

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

Section 1. new text begin CENTERVILLE; TAX INCREMENT FINANCING DISTRICTS.
new text end

new text begin Notwithstanding the provisions of Minnesota Statutes, sections 469.177, subdivision
3, and 473F.02, subdivision 3, for purposes of Minnesota Statutes, chapter 473F,
"commercial-industrial property" does not include property located in redevelopment
tax increment financing districts as defined in Minnesota Statutes, section 469.174,
subdivision 10, that constitutes the tax base for which tax increment is pledged in the
city of Centerville.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for districts for which the request
for certification is made after the date of final enactment.
new text end