SF 1776

as introduced - 93rd Legislature (2023 - 2024) Posted on 01/18/2024 09:43am

A bill for an act
relating to taxation; property; tax increment financing; authorizing tax increment
financing districts in the city of Duluth.

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

Section 1. new text begin CITY OF DULUTH; TIF AUTHORITY.
new text end

new text begin Subdivision 1. new text end

new text begin Establishment. new text end

new text begin Under the special rules established in subdivision 2, the
city of Duluth or its economic development authority may establish one or more
redevelopment districts located wholly within the city of Duluth, St. Louis County,
Minnesota, limited to the area bordered on the northeast by Slip 3 and the Pier B Resort
property line extended northwest to Interstate Highway 35, on the southeast by the Duluth
Harbor, on the southwest by the Compass Minerals property line extended northwest to
Interstate Highway 35, and on the northwest by Interstate Highway 35, together with adjacent
roads and rights-of-way.
new text end

new text begin Subd. 2. new text end

new text begin Special rules. new text end

new text begin For any tax increment financing district established under this
section, the following special rules apply:
new text end

new text begin (1) the district is deemed to meet all the requirements of Minnesota Statutes, section
469.174, subdivision 10;
new text end

new text begin (2) expenditures incurred in connection with the development of the property described
in subdivision 1 are deemed to meet the requirements of Minnesota Statutes, section 469.176,
subdivision 4j; and
new text end

new text begin (3) eligible expenditures include without limitation seawalls and pier facings adjacent
to the boundaries of such district.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after the governing body of the
city of Duluth and its chief clerical officer comply with Minnesota Statutes, section 645.021,
subdivisions 2 and 3.
new text end

Sec. 2. new text begin CITY OF DULUTH; TIF DURATION EXTENSION.
new text end

new text begin Notwithstanding Minnesota Statutes, section 469.176, subdivision 1b, or any other law
to the contrary, the city of Duluth or its economic development authority may extend the
duration limit of a district established under section 1 by ten years.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon compliance by the city of Duluth,
St. Louis County, and Independent School District No. 709 with the requirements of
Minnesota Statutes, section 469.1782, subdivision 2.
new text end