HF 3656

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of Delano; authorizing the city 
  1.3             to elect a local contribution for a tax increment 
  1.4             financing district.  
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CITY OF DELANO; AUTHORITY TO ELECT LOCAL 
  1.7   CONTRIBUTIONS FOR TAX INCREMENT FINANCING DISTRICT.] 
  1.8      Notwithstanding the provisions of Laws 1995, chapter 264, 
  1.9   article 5, section 49, or any other law, the city of Delano may 
  1.10  elect to make local contributions under Minnesota Statutes, 
  1.11  section 273.1399, subdivision 6, paragraph (d), in lieu of the 
  1.12  state aid reduction, with respect to tax increment financing 
  1.13  district No. 84, if:  
  1.14     (1) the city and the authority agree to decertify the 
  1.15  district at least three years before the expiration of the 
  1.16  district's duration limit under Minnesota Statutes, section 
  1.17  469.176, subdivision 1b; 
  1.18     (2) the city makes an irrevocable election to make local 
  1.19  contributions and to be governed by clause (1) by December 31, 
  1.20  1998; and 
  1.21     (3) the authority notifies the commissioner of revenue of 
  1.22  the election by January 31, 1999. 
  1.23     Sec. 2.  [EFFECTIVE DATE.] 
  1.24     Section 1 is effective the day following final enactment.