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HF 360

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 01:36am

KEY: stricken = removed, old language.
underscored = added, new language.
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Bill Text Versions

Engrossments
Introduction Posted on 01/28/2009

Current Version - as introduced

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A bill for an act
 relating to taxation; city of St. Louis Park; extending duration of a tax increment
financing district; amending Laws 1995, chapter 264, article 5, section 36,
subdivision 1.

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

Section 1.

Laws 1995, chapter 264, article 5, section 36, subdivision 1, is amended to
read:


Subdivision 1.

Authorization.

Notwithstanding Minnesota Statutes, section
469.176, subdivision 1c, the St. Louis Park economic development authority may collect
and expend tax increments from the Excelsior Boulevard Redevelopment Project and Oak
Park Village tax increment financing districts (Hennepin county project numbers 1300
and 1301, respectively) located within the city of St. Louis Park, after April 1, 2001, for
eligible activities within the redevelopment area. The authority under this section expires
August 1, 2009new text begin , with respect to the Oak Park Village District, and expires December 31,
2019, with respect to the Excelsior Boulevard Redevelopment Project Districtnew text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon compliance by the governing
body of the city of St. Louis Park with the requirements of Minnesota Statutes, sections
469.1782, subdivision 2, and 645.021, subdivision 3.
 new text end