SF 259

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 02:12am

A bill for an act
relating to taxation; city of Minnetonka; extending the duration of a tax increment
financing district.

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

Section 1. new text begin CITY OF MINNETONKA; TIF DISTRICT EXTENSION.
new text end

new text begin Notwithstanding the provisions of Minnesota Statutes, section 469.176, subdivision
1b, paragraph (a), clause (1), the governing bodies of the city of Minnetonka and its
economic development authority may elect to extend the maximum duration of the
Glenhaven Tax Increment Financing District by up to seven years.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon compliance with Minnesota
Statutes, sections 469.1782, subdivision 2, and 645.021, subdivision 3.
new text end