HF 2580

as introduced - 88th Legislature (2013 - 2014) Posted on 03/03/2014 02:44pm

A bill for an act
relating to taxation; tax increment financing; extending the five-year rule for the
Mound Harbor Tax Increment Financing District.

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

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

new text begin The requirements of Minnesota Statutes, section 469.1763, subdivision 3, that
activities must be undertaken within a five-year period from the date of certification of
a tax increment financing district, are considered to be met for the Mound Harbor Tax
Increment Financing District administered by the Housing and Redevelopment Authority
in and for the city of Mound if the activities are undertaken within 15 years from the
date of certification of the district.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin The section is effective upon compliance by the governing
body of the city of Mound with the requirements of Minnesota Statutes, section 645.021,
subdivisions 2 and 3.
new text end