HF 1511

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to the city of Taylors Falls; authorizing the
city of Taylors Falls to establish and exercise border
city development zone powers.

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

Section 1. new text begin CITY OF TAYLORS FALLS; BORDER CITY DEVELOPMENT
ZONE.
new text end

new text begin Subdivision 1. new text end

new text begin Authorization. new text end

new text begin The governing body of the
city of Taylors Falls may designate all or any part of the city
as a border city development zone.
new text end

new text begin Subd. 2. new text end

new text begin Application of general law. new text end

new text begin (a) Minnesota
Statutes, sections 469.1731 to 469.1735, apply to the border
city development zones designated under this section. The
governing body of the city may exercise the powers granted under
Minnesota Statutes, sections 469.1731 to 469.1735, including
powers that apply outside of the zones.
new text end

new text begin (b) The allocation under subdivision 3 for purposes of
Minnesota Statutes, section 469.1735, subdivision 2, is
appropriated to the commissioner of revenue.
new text end

new text begin Subd. 3. new text end

new text begin Allocation of state tax reductions. new text end

new text begin (a) The
cumulative total amount of the state portion of the tax
reductions for all years of the program under Minnesota
Statutes, sections 469.1731 to 469.1735, for the city of Taylors
Falls, is limited to $100,000.
new text end

new text begin (b) This allocation may be used for tax reductions provided
in Minnesota Statutes, section 469.1732 or 469.1734, or for
reimbursements under Minnesota Statutes, section 469.1735,
subdivision 3, but only if the governing body of the city of
Taylors Falls determines that the tax reduction or offset is
necessary to enable a business to expand within the city or to
attract a business to the city.
new text end

new text begin (c) The commissioner of revenue may waive the limit under
this subdivision using the same rules and standards provided in
Minnesota Statutes, section 469.169, subdivision 12, paragraph
(b).
new text end

Sec. 2. new text begin EFFECTIVE DATE; LOCAL APPROVAL.
new text end

new text begin Section 1 is effective upon approval by the governing body
of the city of Taylors Falls and upon timely compliance by the
city with Minnesota Statutes, section 645.021.
new text end