HF 655

as introduced - 91st Legislature (2019 - 2020) Posted on 02/04/2019 03:04pm

A bill for an act
relating to taxation; authorizing tax increment financing districts in the city of
Burnsville.

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

Section 1. new text begin CITY OF BURNSVILLE; TIF AUTHORITY.
new text end

new text begin Subdivision 1. new text end

new text begin Establishment. new text end

new text begin Under the special rules in subdivision 2, the economic
development authority of the city of Burnsville or the city of Burnsville may establish one
or more redevelopment tax increment financing districts located wholly within the area in
the city of Burnsville, Dakota County, Minnesota including the following parcels, identified
by tax identification numbers, together with adjacent roads and rights-of-way:
new text end

new text begin 024842501010, 029032000010, 021538001070, 029023000030, 025795001010,
029018000010, 026370001010, 029031000010, 021538001020, 021826001010,
021538001010, 021538001030, 021570001010, 021538000010, 029019000042,
029019000041, 021538001091, 021538001050, 021536801010, 029019000030,
021538001060, 029030000010, 021638101020, 021536008010, 028351701010,
023335001011, 021537301020, 021537301010, 027308300010, 021536801020,
029031000020, 027150001010, 020250031010, 023335001012, 021638101010,
021538001040.
new text end

new text begin Subd. 2. new text end

new text begin Special rules. new text end

new text begin (a) If the city or the authority establishes any tax increment
financing district under this section, the following special rules apply:
new text end

new text begin (1) the districts are deemed to meet all the requirements of Minnesota Statutes, section
469.174, subdivision 10;
new text end

new text begin (2) any expenditure for, or payment of bonds issued to finance, activities within the area
described in subdivision 1 is not subject to the restrictions under Minnesota Statutes, section
469.1763, for any district established under this section, except that expenditures for activities
outside the area defined in subdivision 1 are subject to the percentage limits under Minnesota
Statutes, section 469.1763, subdivision 2, paragraph (a);
new text end

new text begin (3) expenditures incurred in connection with the development of the property described
in subdivision 1 of this section, are deemed to meet the requirements of Minnesota Statutes,
section 469.176, subdivision 4j;
new text end

new text begin (4) the four-year period under Minnesota Statutes, section 469.176, subdivision 6, is
extended to a ten-year period for each district;
new text end

new text begin (5) the five-year rule under Minnesota Statutes, section 469.1763, subdivision 3, is
extended to a ten-year period for each district; and
new text end

new text begin (6) Minnesota Statutes, section 469.1763, subdivision 4, does not apply to districts
established under this section.
new text end

new text begin (b) Except as otherwise provided in paragraph (a), the provisions of Minnesota Statutes,
sections 469.174 to 469.1794, apply to districts established under this section.
new text end

new text begin Subd. 3. new text end

new text begin Expiration. new text end

new text begin The authority to request certification of any district under this
section expires on June 30, 2039.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon approval by the governing body
of the city of Burnsville and compliance with the requirements of Minnesota Statutes, section
645.021.
new text end