as introduced - 87th Legislature (2011 - 2012) Posted on 02/02/2011 09:29am
Engrossments | ||
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Introduction | Posted on 02/02/2011 |
A bill for an act
relating to tax increment financing; prohibiting establishing new or expanding
existing tax increment financing districts or plans; amending Minnesota Statutes
2010, section 469.175, by adding a subdivision.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2010, section 469.175, is amended by adding a
subdivision to read:
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Notwithstanding sections 469.174 to 469.1794
or any other law to the contrary, an authority must not:
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(1) request certification of a new tax increment financing district or the addition of
geographic area to an existing tax increment financing district after June 30, 2011; or
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(2) modify an existing tax increment financing plan in a manner that extends the
duration of a district, expands the activities to be financed within the district, or authorizes
the incurring of additional expenses not included in the plan before May 1, 2011.
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