HF 4169

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:

Section 1. new text begin BLOOMINGTON TAX INCREMENT FINANCING; FIVE-YEAR
RULE.
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, 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.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin 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.
new text end