as introduced - 79th Legislature (1995 - 1996) Posted on 12/15/2009 12:00am
1.1 A bill for an act 1.2 relating to tax increment financing; providing for the 1.3 establishment of tax increment financing districts in 1.4 the cities of Glenville and Albert Lea; exempting 1.5 certain districts in the city of Albert Lea from 1.6 certain aid reductions. 1.7 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 1.8 Section 1. [CITY OF GLENVILLE; TAX INCREMENT FINANCING 1.9 DISTRICT.] 1.10 The city of Glenville may establish an economic development 1.11 tax increment financing district for the purpose of establishing 1.12 an industrial park, including acquiring land, construction of 1.13 rail services, construction of roads, extension of utilities, 1.14 and the construction of a sewer collection line to carry 1.15 effluent from one or more locations in Glenville to the city of 1.16 Albert Lea sewage treatment plant. The district is established 1.17 under and subject to Minnesota Statutes, sections 469.174 to 1.18 469.179, except: 1.19 (1) Minnesota Statutes, section 273.1399, does not apply; 1.20 and 1.21 (2) the city may not establish the tax increment financing 1.22 district under this section unless the tax increment financing 1.23 plan is approved by resolution of the governing body of the city 1.24 of Albert Lea. 1.25 Sec. 2. [CITY OF ALBERT LEA; INDUSTRIAL PROJECT.] 1.26 The city of Albert Lea may establish economic development 2.1 tax increment financing district 5-6 for industrial and 2.2 manufacturing projects. The district is established under and 2.3 subject to Minnesota Statutes, sections 469.174 to 469.179, 2.4 except: 2.5 (1) Minnesota Statutes, section 273.1399, does not apply; 2.6 and 2.7 (2) the city must pay at least five percent of the project 2.8 costs from its general fund, a property tax levy, or other 2.9 unrestricted money (other than tax increments). 2.10 Sec. 3. [CITY OF ALBERT LEA; TAX INCREMENT FINANCING 2.11 DISTRICTS.] 2.12 Minnesota Statutes, section 273.1399, does not apply to tax 2.13 increment financing districts 5-3, 5-4, and 5-5, located in the 2.14 city of Albert Lea. 2.15 Sec. 4. [EFFECTIVE DATE; LOCAL APPROVAL.] 2.16 Section 1 is effective the day after compliance by the 2.17 governing body of the city of Glenville with Minnesota Statutes, 2.18 section 645.021, subdivision 3. Sections 2 and 3 are effective 2.19 the day after compliance by the governing body of the city of 2.20 Albert Lea with Minnesota Statutes, section 645.021, subdivision 2.21 3.