HF 450

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to tax increment financing; permitting 
  1.3             pooling of increments by certain districts in the city 
  1.4             of Duluth. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CITY OF DULUTH; TAX INCREMENT FINANCING 
  1.7   POOLING.] 
  1.8      Notwithstanding the provisions of Minnesota Statutes, 
  1.9   section 469.1763, subdivision 2, and the provisions of the Tax 
  1.10  Increment Financing Act in effect for districts established in 
  1.11  the city of Duluth for which the request for certification was 
  1.12  made before July 1, 1982, revenue derived from increments paid 
  1.13  by properties in the districts may be expended, through a 
  1.14  development fund or otherwise, on redevelopment activities 
  1.15  outside of the district, but within the defined geographic area 
  1.16  of the project.