HF 2602

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of Rushford; allowing an extended 
  1.3             duration for a redevelopment tax increment financing 
  1.4             district. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [RUSHFORD TAX INCREMENT FINANCING EXTENSION.] 
  1.7      The governing body of the city of Rushford may elect to 
  1.8   extend the duration of its downtown redevelopment tax increment 
  1.9   financing district by up to two additional years.  The city may 
  1.10  apply for a grant under Minnesota Statutes, section 469.1799, 
  1.11  for any deficit that occurs during any year of the district's 
  1.12  duration, including the extension. 
  1.13     [EFFECTIVE DATE.] This section is effective upon compliance 
  1.14  with the requirements of Minnesota Statutes, sections 469.1782, 
  1.15  subdivision 2; and 645.021.