HF 1739

1st Engrossment - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to tax increment financing; authorizing the 
  1.3             expenditure of revenues derived from a tax increment 
  1.4             financing district located in the city of Foley 
  1.5             outside of the district.  
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [CITY OF FOLEY; TAX INCREMENT FINANCING.] 
  1.8      Notwithstanding any law to the contrary, the city of Foley 
  1.9   may expend revenues derived from tax increment financing 
  1.10  district number 1 to finance a wastewater treatment facility 
  1.11  located outside of the district, subject to the restrictions 
  1.12  under Minnesota Statutes 1996, section 469.1763, subdivision 2.  
  1.13  The revenues expended under this section after December 31, 
  1.14  1996, must not exceed $270,000.  
  1.15     Sec. 2.  [EFFECTIVE DATE; APPLICABILITY.] 
  1.16     Pursuant to Minnesota Statutes, section 645.023, paragraph 
  1.17  (a), section 1 is effective without local approval the day 
  1.18  following final enactment and, subject to the limitation in 
  1.19  section 1, applies to revenues expended before and after the 
  1.20  effective date.