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HF 618

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/01/2021 03:26pm

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

Engrossments
Introduction Posted on 02/01/2021

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
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2.1 2.2 2.3

A bill for an act
 relating to taxation; property; tax increment financing; authorizing tax increment
financing districts in the city of Burnsville.

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

Section 1. new text begin CITY OF BURNSVILLE; TIF AUTHORITY.
new text end

new text begin Subdivision 1. new text end

new text begin Establishment. new text end

new text begin Under the special rules established in subdivision 2, the
economic development authority of the city of Burnsville or the city of Burnsville may
establish one or more redevelopment districts located wholly within the area of the city of
Burnsville, Dakota County, Minnesota, limited to the parcels comprising the Burnsville
Center mall together with adjacent roads and rights-of-way.
 new text end

new text begin Subd. 2. new text end

new text begin Special rules. new text end

new text begin If the city or authority establishes a tax increment financing
district under this section, the following special rules apply:
 new text end

new text begin (1) the districts are deemed to meet all the requirements of Minnesota Statutes, section
469.174, subdivision 10;
 new text end

new text begin (2) expenditures incurred in connection with the development of the property described
in subdivision 1 are deemed to meet the requirements of Minnesota Statutes, section 469.176,
subdivision 4j; and
 new text end

new text begin (3) increments generated from the districts may be expended for the construction and
acquisition of property for a bridge, tunnel, or other connector from the property described
in subdivision 1 across adjacent roads and rights-of-way and all such expenditures are
deemed expended on activities within the district for purposes of Minnesota Statutes, section
469.1763.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after the governing body of the
city of Burnsville and its chief clerical officer comply with the requirements of Minnesota
Statutes, section 645.021.
 new text end