SF 870

as introduced - 81st Legislature (1999 - 2000) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to the city of Garrison; authorizing local 
  1.3             contribution for a tax increment financing district. 
  1.4   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.5      Section 1.  [LOCAL CONTRIBUTION AUTHORIZED.] 
  1.6      Notwithstanding the provisions of Laws 1995, chapter 264, 
  1.7   article 5, section 49, the city of Garrison may elect to make 
  1.8   local contributions with respect to tax increment financing 
  1.9   district No. 1 under Minnesota Statutes, section 273.1399, 
  1.10  subdivision 6, paragraph (d), in lieu of the state-aid 
  1.11  reductions, if the following conditions are satisfied: 
  1.12     (1) the city makes an irrevocable election to make local 
  1.13  contributions with respect to tax increment financing district 
  1.14  No. 1 by December 31, 1999; 
  1.15     (2) the city notifies the commissioner of revenue of the 
  1.16  election by January 31, 2000. 
  1.17     Sec. 2.  [QUALIFYING CONTRIBUTIONS.] 
  1.18     If the city makes the election described in section 1, 
  1.19  contributions made by the city at any time after the date of 
  1.20  approval of the tax increment financing plan for tax increment 
  1.21  financing district No. 1, and that otherwise qualify as local 
  1.22  contributions under Minnesota Statutes, section 273.1399, 
  1.23  subdivision 6, paragraph (d), qualify as local contributions for 
  1.24  the purposes of this act. 
  2.1      Sec. 3.  [EFFECTIVE DATE.] 
  2.2      Sections 1 and 2 are effective upon local approval in 
  2.3   compliance with the requirements of Minnesota Statutes, section 
  2.4   645.021.