HF 3727

as introduced - 86th Legislature (2009 - 2010) Posted on 03/22/2010 09:45am

A bill for an act
relating to taxation; providing for use of tax increment from the Homeless
Assistance Tax Increment District in the city of Minneapolis; amending Laws
2006, chapter 259, article 10, section 14, subdivision 3.

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

Section 1.

Laws 2006, chapter 259, article 10, section 14, subdivision 3, is amended to
read:

Subd. 3.

Application of tax increment law.

Minnesota Statutes, sections 469.174
to 469.179, shall apply to the administration of the district, except:

(1) as this section provides otherwise; and

(2) with respect to the portion of the increment to be expended for homeless shelter
and services pursuant to subdivision 5, paragraph (b):

(i) the use for which tax increment that may be expended is as provided by
subdivision 5; deleted text begin and
deleted text end

(ii) Minnesota Statutes, sections 469.1761 and 469.1763, do not apply new text begin ; and
new text end

new text begin (iii) tax increment may be used for reimbursement of costs incurred at any time after
the effective date of this section, even if incurred prior to establishment of the district or
execution of a city tax increment agreement new text end .

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon compliance by the city of
Minneapolis with Minnesota Statutes, section 645.021, subdivisions 2 and 3.
new text end