HF 1397

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

  1.1                          A bill for an act 
  1.2             relating to Stearns county; ratifying certain tax 
  1.3             increment financing actions. 
  1.4   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.5      Section 1.  [STEARNS COUNTY; TAX INCREMENT FINANCING.] 
  1.6      Subdivision 1.  [RATIFICATION OF HOUSING AND REDEVELOPMENT 
  1.7   AUTHORITY TAX INCREMENT FINANCING ACTIONS.] All tax increments 
  1.8   from tax increment financing districts numbers 15, 22, 58, and 
  1.9   68 established by the Stearns county housing and redevelopment 
  1.10  authority expended before April 1, 1997, on any activity or 
  1.11  program provided for in the tax increment financing plans, as 
  1.12  amended through April 24, 1998, are ratified and approved and 
  1.13  are conclusively deemed to be spent in compliance with 
  1.14  applicable law.  Any funds remaining in tax increment financing 
  1.15  districts numbers 15 and 22 must be distributed as excess 
  1.16  increments under Minnesota Statutes, section 469.176, 
  1.17  subdivision 2. 
  1.18     Subd. 2.  [CONDITIONS.] The ratification under subdivision 
  1.19  1 is valid only if: 
  1.20     (1) the Stearns county housing and redevelopment authority 
  1.21  decertifies tax increment financing districts numbers 58 and 68 
  1.22  as soon as all costs authorized by the tax increment financing 
  1.23  plans are paid; and 
  1.24     (2) any payments to the Stearns county housing and 
  2.1   redevelopment authority associated with litigation, court 
  2.2   action, or other settlement action relating to tax increment 
  2.3   financing districts numbers 15, 22, 58, and 68, less any related 
  2.4   legal fees and expenses, must be distributed as excess 
  2.5   increments under Minnesota Statutes, section 469.176, 
  2.6   subdivision 2. 
  2.7      Subd. 3.  [EFFECTIVE DATE.] This section is effective upon 
  2.8   compliance by the governing body of Stearns county with 
  2.9   Minnesota Statutes, section 645.021, subdivision 3.