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Minnesota Legislature

Office of the Revisor of Statutes

HF 1637

as introduced - 90th Legislature (2017 - 2018) Posted on 02/23/2017 01:28pm

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

Current Version - as introduced

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A bill for an act
relating to tax-increment financing; modifying the Ford Site Redevelopment


Section 1. new text beginCITY OF ST. PAUL; TIF AUTHORITY.
new text end

new text begin (a) For purposes of computing the duration limits under Minnesota Statutes, section
469.176, subdivision 1b, the housing and redevelopment authority of the city of St. Paul
may waive receipt of increment for the Ford Site Redevelopment Tax Increment Financing
District. This authority is limited to the first four years of increment or increments derived
from taxes payable in 2023, whichever occurs first.
new text end

new text begin (b) If the city elects to waive receipt of increment under paragraph (a), for purposes of
applying any limits based on when the district was certified under Minnesota Statutes,
section 469.176, subdivision 6, or 469.1763, the date of certification for the district is deemed
to be January 2 of the property tax assessment year for which increment is first received
under the waiver.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2017, without local approval
under Minnesota Statutes, section 645.023, subdivision 1, paragraph (a).
new text end