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SF 1122

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 02:18am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to taxation; the city of St. Paul; housing and redevelopment authority;
establishing central corridor light rail transit project area; extending the duration
of certain tax increment districts.

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

Section 1. new text begin CENTRAL CORRIDOR LIGHT RAIL TRANSIT PROJECT AREA.
new text end

new text begin The Housing and Redevelopment Authority of the city of St. Paul, with the approval
of the city of St. Paul, may establish the central corridor light rail transit project area as a
redevelopment project under Minnesota Statutes, section 469.028. At least 80 percent of
the property included in the project area must be located within one quarter mile of the
central corridor light rail transit alignment.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon approval by the St. Paul City
Council in compliance with Minnesota Statutes, section 645.021. The provisions of
Minnesota Statutes, section 469.1782, do not apply.
new text end

Sec. 2. new text begin CITY OF ST. PAUL; TAX INCREMENT FINANCING.
new text end

new text begin Subdivision 1. new text end

new text begin Extended duration. new text end

new text begin The durations of the Neighborhood Commercial
Scattered Site tax increment financing district (county No. 100), the Hubbard tax
increment financing district (county No. 193), the Spruce Tree tax increment financing
district (county No. 83), and the Snelling-University tax increment financing district
(county No. 135) previously created by the Housing and Redevelopment Authority of
the city of St. Paul are extended to December 31, 2029.
new text end

new text begin Subd. 2. new text end

new text begin Expenditure of tax increments. new text end

new text begin The provisions of Minnesota Statutes,
sections 469.176, subdivisions 4b; 4g, paragraph (c); 4j; and 4l, and 469.1763, subdivisions
2, paragraph (a), and 3, do not apply to the expenditure of tax increments from the tax
increment districts extended under subdivision 1. Tax increments in subdivision 1 may be
expended within the original redevelopment project areas or within the central corridor
light rail transit redevelopment project area for any public redevelopment costs and to pay
the cost of programs to mitigate lost parking caused by the construction of the central
corridor light rail transit line.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon approval by the St. Paul City
Council in compliance with Minnesota Statutes, section 645.021. The provisions of
Minnesota Statutes, section 469.1782, do not apply.
new text end