HF 5213

as introduced - 93rd Legislature (2023 - 2024) Posted on 04/02/2024 11:53am

A bill for an act
relating to taxation; tax increment financing; providing special tax increment
financing authority to the city of Moorhead.

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

Section 1. new text begin CITY OF MOORHEAD; TAX INCREMENT FINANCING DISTRICT
NO. 31; FIVE-YEAR RULE EXTENSION.
new text end

new text begin (a) 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 extended to ten years for Tax Increment Financing
District No. 31 administered by the city of Moorhead.
new text end

new text begin (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, are extended to the 11th year for Tax Increment Financing
District No. 31 administered by the city of Moorhead.
new text end

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 Moorhead and its chief clerical officer comply with the requirements of Minnesota
Statutes, section 645.021, subdivisions 2 and 3.
new text end