HF 810

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of Mankato; authorizing the city 
  1.3             to establish economic development tax increment 
  1.4             financing districts; exempting certain tax increment 
  1.5             financing districts from certain aid offsets. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [CITY OF MANKATO; ECONOMIC DEVELOPMENT 
  1.8   DISTRICT.] 
  1.9      Subdivision 1.  [ESTABLISHMENT.] The city of Mankato may 
  1.10  establish economic development tax increment financing districts 
  1.11  that include all properties in the Eastwood Industrial Centre 
  1.12  Industrial Park.  The districts are established subject to 
  1.13  Minnesota Statutes, sections 469.174 to 469.179, except that the 
  1.14  provisions of Minnesota Statutes, section 273.1399, do not apply.
  1.15     Subd. 2.  [EXEMPTION.] Minnesota Statutes, section 
  1.16  273.1399, does not apply to tax increment financing district No. 
  1.17  19-2, located in the city of Mankato. 
  1.18     Sec. 2.  [EFFECTIVE DATE; FINANCIAL APPROVAL.] 
  1.19     Section 1 is effective the day after compliance by the 
  1.20  governing body of the city of Mankato with Minnesota Statutes, 
  1.21  section 645.021, subdivision 2.