SF 736

Introduction - 94th Legislature (2025 - 2026)

Posted on 07/18/2025 03:03 p.m.

A bill for an act
relating to taxation; tax increment financing; authorizing special rules for the city
of Minnetonka.

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

Section 1. new text begin CITY OF MINNETONKA; OPUS TIF DISTRICT; FIVE-YEAR RULE
EXTENSION.
new text end

new text begin (a) The five-year period under Minnesota Statutes, section 469.1763, subdivision 3, is
extended to ten years and the period under Minnesota Statutes, section 469.1763, subdivision
4, relating to the use of increment after the expiration of the five-year period, is extended
to 11 years for the Opus tax increment financing district established in 2021 by the economic
development authority in the city of Minnetonka.
new text end

new text begin (b) Minnesota Statutes, section 469.176, subdivision 4j, does not apply to the district.
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 Minnetonka and its chief clerical officer comply with the requirements of Minnesota
Statutes, section 645.021, subdivisions 2 and 3.
new text end