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SF 785 Senate Long Description

Providing for mitigation of the impacts of expansion of the +Minneapolis-St. Paul international airport on the cities of Bloomington, Burnsville, +Eagan, Mendota Heights, Minneapolis, Richfield and St. Paul; authorizing the+ cities to study and identify airport impacts, specifying certain consideration requirements and requiring subsequent adoption of a report on the +impacts and development of an airport mitigation plan for an airport impact zone +in the city, specifying certain plan development, content and public hearing requirements, requiring submission of the plan and mitigation report +to the commissioner of trade and economic development (DTED) for approval +after initial local approval, requiring copies to the metropolitan council +and metropolitan airports commission for review and comment, requiring +the commissioner before approval to establish criteria for evaluating +proposed airport impact zones and districts and mitigation measures, requiring consultation with the cities, the metropolitan council and MAC in +developing the criteria, requiring council approval of mitigation plans with +credit enhancements before bond issuance; specifying certain requirements +for plan changes; creating the airport impact mitigation fund to be +administered by the commissioner; providing for annual appropriation of certain excess +revenues derived from the sales tax on airport sales to the fund and +specifying certain authorized uses and disbursement requirements; providing for +termination of the fund; authorizing and providing for the cities to issue obligations +to pay or reimburse mitigation plan implementation costs; authorizing and +providing for the metropolitan council to establish an airport impact mitigation +bond credit enhancement program for use under certain conditions(mk)