1.1                          A bill for an act 
  1.2             relating to economic development; allowing certain 
  1.3             cities to turn over certain property taxes to their 
  1.4             joint economic development association. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [VIRGINIA AND EVELETH TAX LEVY FOR VEEDA.] 
  1.7      Notwithstanding other law, the cities of Eveleth and 
  1.8   Virginia may agree to turn over annually, when received, all or 
  1.9   part of the proceeds of each of the city's property tax levy 
  1.10  attributable to real property in the Virginia-Eveleth Economic 
  1.11  Development Association's (VEEDA) Progress Park Development to 
  1.12  VEEDA for its use for economic development purposes. 
  1.13     Sec. 2.  [LOCAL APPROVAL.] 
  1.14     Section 1 is effective the day after the latter of the 
  1.15  governing bodies of the cities of Virginia and Eveleth complies 
  1.16  with Minnesota Statutes, section 645.021, subdivision 3.