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HF 372

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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Engrossments
Introduction Posted on 01/28/2009

Current Version - as introduced

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A bill for an act
 relating to taxation; authorizing extension of duration of a tax increment financing
district in the city of South St. Paul; providing for expenditure of increments;
amending Laws 1994, chapter 587, article 9, section 17, subdivision 1.

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

Section 1.

Laws 1994, chapter 587, article 9, section 17, subdivision 1, is amended to
read:


Subdivision 1.

District extension.

Notwithstanding Minnesota Statutes, section
469.176, subdivision 1c, the housing and redevelopment authority may collect and expend
tax increment from the Concord Street redevelopment tax increment financing district,
located within the city of South St. Pauldeleted text begin , after April 1, 2001,deleted text end for eligible activities within
the redevelopment area. The authority under this section expires December 31, deleted text begin 2006deleted text end new text begin 2021new text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for tax increments collected after
December 31, 2008, upon compliance by the South St. Paul City Council with Minnesota
Statutes, section 645.021, subdivision 2.
 new text end