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Minnesota Legislature

Office of the Revisor of Statutes

HF 2841

as introduced - 91st Legislature (2019 - 2020) Posted on 04/12/2019 08:49am

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

Current Version - as introduced

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A bill for an act
relating to tax increment financing; extending a Shoreview tax increment pilot
project; amending Laws 2014, chapter 308, article 6, section 13, subdivision 1.

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

Section 1.

Laws 2014, chapter 308, article 6, section 13, subdivision 1, is amended to
read:


Subdivision 1.

Authority to establish districts.

(a) The governing body of the city of
Shoreview or a development authority it designates may establish not more than three
economic development tax increment financing districts in the city subject to the special
rules under this section. The purpose of these districts is the retention and expansion of
existing businesses in the city and the attraction of new business to the state to create and
retain high paying jobs.

(b) The authority to establish or approve the tax increment financing plans and request
certification for districts under this section expires on June 30, deleted text begin2019deleted text endnew text begin 2022new text end.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end