HF 1508

as introduced - 88th Legislature (2013 - 2014) Posted on 03/13/2013 02:58pm

A bill for an act
relating to the city of Minneapolis; providing property tax exemption for a public
entertainment facility.

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

Section 1. new text begin PUBLIC ENTERTAINMENT FACILITY; PROPERTY TAX
EXEMPTION; SPECIAL ASSESSMENT.
new text end

new text begin Any real or personal property acquired, owned, leased, controlled, used, or occupied
by the city of Minneapolis for the primary purpose of providing an arena for a professional
basketball team is declared to be acquired, owned, leased, controlled, used, and occupied
for public, governmental, and municipal purposes, and is exempt from ad valorem taxation
by the state or any political subdivision of the state, provided that the properties are
subject to special assessments levied by a political subdivision for a local improvement in
amounts proportionate to and not exceeding the special benefit received by the properties
from the improvement. In determining the special benefit received by the properties, no
possible use of any of the properties in any manner different from their intended use for
providing a professional basketball arena at the time may be considered. Notwithstanding
Minnesota Statutes, sections 272.01, subdivision 2, or 273.19, real or personal property
subject to a lease or use agreement between the city and another person for uses related to
the purposes of the operation of the arena and related parking facilities is exempt from
taxation regardless of the length of the lease or use agreement. This section, insofar as it
provides an exemption or special treatment, does not apply to any real property that is
leased for residential, business, or commercial development, or to a restaurant that is open
for general business more than 200 days a year, or for other purposes different from those
necessary to the provision and operation of the arena.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after compliance by the
governing body of the city of Minneapolis with Minnesota Statutes, section 645.021,
subdivisions 2 and 3.
new text end