SF 1463

as introduced - 88th Legislature (2013 - 2014) Posted on 03/19/2013 09:25am

A bill for an act
relating to tax increment financing; extending temporary authority of the city of
Eagan to spend certain tax increments.

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

Section 1. new text begin CITY OF EAGAN; TEMPORARY TAX INCREMENT FINANCING
AUTHORITY.
new text end

new text begin Notwithstanding the time limitations of Minnesota Statutes, section 469.176,
subdivision 4m, or any other law to the contrary, the city of Eagan may spend tax
increments under Minnesota Statutes, section 469.176, subdivision 4m, paragraph (a), for
purposes of economic development of the former Lockheed property at 3333 Pilot Knob
Road in Eagan, providing that construction commences by June 30, 2015. The authority of
the city of Eagan to spend tax increments as provided in this section expires June 30, 2016.
new text end