Legislative Session number- 84

Bill Name: HF2498

HF 2498

CHAPTER 152
EFFECTIVE DATE: Various

Public finance and tax increment
financing provisions modified, purchases authorized, international economic
development zone provided, tax incentives established, and money
appropriated.

ARTICLE 1 -- PUBLIC FINANCE

Section 1: City of St. Paul data
provided.
Sec. 2: Guaranteed investment contracts modified.
Sec. 3: "Special
levies" definition modified.
Sec. 4: Taconite environmental protection fund
approved projects modified.
Sec. 5: Property acquisition and appropriation
regulations modified.
Sec. 6: Capital notes modified.
Sec. 7: Related term
definitions modified.
Sec. 8: Capital note issuance effective date
specified.
Sec. 9: Equipment financing purchase regulations modified.
Sec. 10:
Special service district deadline specified.
Sec. 11: Housing improvement
district deadline modified.
Sec. 12: Street or road improvements outside
municipal boundaries regulated.
Sec. 13: Utility joint ventures authorized in
specified instances.
Sec. 14: Competitive bidding requirement exceptions
expanded.
Sec. 15: General obligation revenue bonds sold for elderly housing
regulated.
Sec. 16: Bond issuance manner modified.
Sec. 17: Abatement duration
limit extended.
Sec. 18: Debt reserve and levy regulations modified.
Sec. 19:
Obligations modified.
Sec. 20: Investment income uses modified.
Sec. 21:
Public facilities pool allocation increased.
Sec. 22: Issuance notice deadline
specified.
Sec. 23: "Net Debt" definition modified.
Sec. 24: Semi colon
added.
Sec. 25: Semi colon added.
Sec. 26: Semi colon added.
Sec. 27:
"Capital improvement" and "municipality" definitions modified.
Sec. 28:
Election requirements modified.
Sec. 29: Capital improvement plan
clarified.
Sec. 30: Account limitations provided.
Sec. 31: Street
reconstruction modified.
Sec. 32: Levy adjustments for aid decreases
provided.
Sec. 33: Technical law references added to taconite production tax
revenue bond payment regulations.
Sec. 34: Tax levy authority regulations
modified.
Sec. 35: Bemidji tax abatement duration extention provided.
Sec. 36:
White city obligations authorized.
Sec. 37: Sauk river watershed district
regulations modified.
Sec. 38: St. Paul rivercentre complex operation
regulations established.
Sec. 39: Iron range resources and rehabilitation
commissioner specified.
Sec. 40: Crow wing county sewer district pilot project
established.
Sec. 41: White Bear lake payments required.
Sec. 42: Application
of certain sections specified.
Sec. 43: Repealer.
Sec. 44: Effective
date.

ARTICLE 2 -- TAX INCREMENT FINANCING

Section 1: Local match requirement
specified.
Sec. 2: Job opportunity building zone property regulated.
Sec. 3:
Effective date for exemption specified.
Sec. 4: Exemption limits detailed.
Sec.
5: Housing district definition modified.
Sec. 6: "Increment," "tax increment,"
and related term definitions modified.
Sec. 7: Tax increment financing plan
clarified.
Sec. 8: Comment and filing consultations modified.
Sec. 9: State
filing plan modified.
Sec. 10: Annual disclosure modified.
Sec. 11: Annual
financial reporting regulations modified.
Sec. 12: Excess increments
modified.
Sec. 13: Housing district revenue usage regulations modified.
Sec.
14: Requirement imposition modified relating to housing district
qualifications.
Sec. 15: Rental property applicability clarified.
Sec. 16:
Expenditures outside district regulations modified.
Sec. 17: Deficit pooling
authorization modified.
Sec. 18: Original net tax capacity regulations
modified.
Sec. 19: Payment disposition effective date specified.
Sec. 20:
Effective date provided for general tax provision.
Sec. 21: District duration
regulations modified.
Sec. 22: Extension of time to expend tax increment
provided.
Sec. 23: Fairmont abatement authority established.
Sec. 24: Wabasha
tax increment financing district established.
Sec. 25: Richfield tax increment
financing district established.
Sec. 26: Mounds View tax increment financing
district established.
Sec. 27: Mounds View state interest in real property
conveyance provided.
Sec. 28: St. Paul housing and redevelopment authority
subdistrict establishement provided.
Sec. 29: Brooklyn Park tax increment
financing district extension provided.
Sec. 30: Fergus Falls economic
development property applicability provided.
Sec. 31: Repealer.

AME
8-22-05