SF 78

as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of Springfield; allowing the city 
  1.3             to establish a tax increment financing district for 
  1.4             certain purposes; exempting the district from certain 
  1.5             aid reductions. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  [ECONOMIC DEVELOPMENT.] 
  1.8      The city of Springfield may establish a tax increment 
  1.9   financing district for the purpose of expanding an agricultural 
  1.10  production facility.  The expansion of the facility must create 
  1.11  or preserve a minimum of 25 jobs.  The district is established 
  1.12  under and subject to Minnesota Statutes, sections 469.174 to 
  1.13  469.178, except that it is exempt from the provisions of 
  1.14  Minnesota Statutes, section 273.1399. 
  1.15     Sec. 2.  [EFFECTIVE DATE.] 
  1.16     Section 1 is effective upon compliance by the governing 
  1.17  body of the city of Springfield with Minnesota Statutes, section 
  1.18  645.021, subdivision 3.