HF 1933

as introduced - 89th Legislature (2015 - 2016) Posted on 03/16/2015 03:07pm

A bill for an act
relating to taxation; tax increment financing; modifying provisions for the city
of Coon Rapids.

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

Section 1. new text begin CITY OF COON RAPIDS; TAX INCREMENT FINANCING.
new text end

new text begin (a) Effective for taxes payable in 2016, the city of Coon Rapids may elect to
compute tax increment for District 6-1 Port Riverwalk using the current local tax rate
notwithstanding the provisions of Minnesota Statutes, section 469.177, subdivision 1a.
new text end

new text begin (b) Notwithstanding the provisions of Minnesota Statutes, section 469.176,
subdivision 1b, or any other law to the contrary, the city of Coon Rapids may collect tax
increment from District 6-1 Port Riverwalk through December 31, 2038.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin Paragraph (a) is effective upon compliance by the governing
body of the city of Coon Rapids with the requirements of Minnesota Statutes, section
645.021, subdivision 3. Paragraph (b) is effective upon compliance by the governing
bodies of the city of Coon Rapids, Anoka County, and Independent School District No.
11 with the requirements of Minnesota Statutes, sections 469.1782, subdivision 2, and
645.021, subdivision 3.
new text end