SF 1747

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

  1.1                          A bill for an act 
  1.2             relating to taxation; providing for an extension of 
  1.3             the duration of a tax increment district in the city 
  1.4             of Fridley. 
  1.5   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.6      Section 1.  [CITY OF FRIDLEY, TAX INCREMENT FINANCING 
  1.7   DISTRICT.] 
  1.8      Subdivision 1.  [EXTENSION OF TIME.] Notwithstanding the 
  1.9   provisions of Minnesota Statutes, section 469.176, subdivision 
  1.10  1b, upon approval of the governing body of the city of Fridley, 
  1.11  the Fridley housing and redevelopment authority may, by 
  1.12  resolution, extend the duration of tax increment financing 
  1.13  district no. 6 located in the city of Fridley.  The housing and 
  1.14  redevelopment authority may not extend the duration beyond 
  1.15  December 31, 2025.  The provisions of Minnesota Statutes, 
  1.16  sections 273.1399, subdivision 8, and 469.1782, subdivision 1, 
  1.17  do not apply to this district if extended. 
  1.18     Subd. 2.  [EFFECTIVE DATE.] This section is effective upon 
  1.19  compliance with the requirements of Minnesota Statutes, section 
  1.20  645.021.