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HF 2131

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

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

Bill Text Versions

Engrossments
Introduction Posted on 03/29/2005

Current Version - as introduced

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A bill for an act
relating to counties; permitting counties to issue
capital improvement bonds for rehabilitation or
demolition of tax-forfeited commercial property;
amending Minnesota Statutes 2004, section 373.40,
subdivision 1, by adding a subdivision.

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

Section 1.

Minnesota Statutes 2004, section 373.40,
subdivision 1, is amended to read:


Subdivision 1.

Definitions.

For purposes of this
section, the following terms have the meanings given.

(a) "Bonds" means an obligation as defined under section
475.51.

(b) "Capital improvement" means acquisition or betterment
of public lands, development rights in the form of conservation
easements under chapter 84C, buildings, or other improvements
within the county for the purpose of a county courthouse,
administrative building, health or social service facility,
correctional facility, jail, law enforcement center, hospital,
morgue, library, park, qualified indoor ice arena, and roads and
bridges. new text begin Capital improvement also means rehabilitation or
demolition of tax-forfeited commercial buildings, as provided in
subdivision 8.
new text end An improvement must have an expected useful life
of five years or more to qualify. "Capital improvement" does
not include light rail transit or any activity related to it or
a recreation or sports facility building (such as, but not
limited to, a gymnasium, ice arena, racquet sports facility,
swimming pool, exercise room or health spa), unless the building
is part of an outdoor park facility and is incidental to the
primary purpose of outdoor recreation.

(c) "Commissioner" means the commissioner of employment and
economic development.

(d) "Metropolitan county" means a county located in the
seven-county metropolitan area as defined in section 473.121 or
a county with a population of 90,000 or more.

(e) "Population" means the population established by the
most recent of the following (determined as of the date the
resolution authorizing the bonds was adopted):

(1) the federal decennial census,

(2) a special census conducted under contract by the United
States Bureau of the Census, or

(3) a population estimate made either by the Metropolitan
Council or by the state demographer under section 4A.02.

(f) "Qualified indoor ice arena" means a facility that
meets the requirements of section 373.43.

(g) "Tax capacity" means total taxable market value, but
does not include captured market value.

Sec. 2.

Minnesota Statutes 2004, section 373.40, is
amended by adding a subdivision to read:


new text begin Subd. 8. new text end

new text begin Financing tax-forfeited commercial property
rehabilitation or demolition.
new text end

new text begin A county with an approved capital
improvement plan under this section may issue bonds to establish
a fund to finance rehabilitation or demolition of tax-forfeited
commercial buildings within the county. The county may make
low-interest loans from the fund to cities and towns to pay for
rehabilitation or demolition of the tax-forfeited commercial
buildings located within their jurisdiction. If the city or
town in which the building is located does not rehabilitate or
demolish it, the county may demolish it in order to eliminate
hazards and possible liabilities related to the building.
new text end