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SF 1560

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 02:22am

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

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8 1.9 1.10 1.11
1.12 1.13

A bill for an act
relating to taxation; the city of Medina; authorizing extension of time for certain
activities in tax increment financing district.

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

Section 1. new text begin CITY OF MEDINA; EXTENSION OF TIME FOR ACTIVITY IN A
TAX INCREMENT FINANCING DISTRICT.
new text end

new text begin The requirement of Minnesota Statutes, section 469.1763, subdivision 3, that
activities must be undertaken within a five-year period from the date of certification of
a tax increment financing district, is considered to be met for Tax Increment Financing
District No. 1-9 administered by the city of Medina if the activities are undertaken within
ten years from the date of certification of the district.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon compliance by the governing
body of the city of Medina with the requirements of Minnesota Statutes, section 645.021.
new text end