as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am
A bill for an act
relating to tax increment financing; city of Bloomington; extending the five-year
rule for a district.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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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, are increased to a ten-year period for the Port Authority
of the City of Bloomington's Tax Increment Financing District No. 1-I, Bloomington
Central Station.
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This section is effective upon compliance by the governing
body of the Port Authority of the City of Bloomington with the requirements of Minnesota
Statutes, section 645.021.
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