SF 2113

as introduced - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am

A bill for an act
relating to taxation; tax increment financing;
authorizing certain expenditures of increment by the
city of Rosemount.

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

Section 1. new text begin CITY OF ROSEMOUNT; TAX INCREMENT FINANCING.
new text end

new text begin The city of Rosemount or a development authority of the
city may spend increment from its Downtown - Brockway Tax
Increment Financing (TIF) District to acquire parcels of
property that the Department of Transportation or Dakota County
acquired in connection with the realignment of marked Trunk
Highway 3, notwithstanding the limits under Minnesota Statutes,
section 469.1763, on the amount of increments that may be spent
outside of the district or Minnesota Statutes, section 469.176,
subdivision 4j, on the purposes for which increments may be
spent.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective upon local
approval by the governing body of the city of Rosemount under
Minnesota Statutes, section 645.021.
new text end