SF 2121

as introduced - 80th Legislature (1997 - 1998) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to taxation; authorizing certain expenditures 
  1.3             of tax increment revenues by the city of Deephaven. 
  1.4   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.5      Section 1.  [CITY OF DEEPHAVEN; TAX INCREMENT FINANCING.] 
  1.6      Subdivision 1.  [AUTHORIZATION OF 
  1.7   EXPENDITURES.] Notwithstanding any law to the contrary, the city 
  1.8   of Deephaven may expend revenues derived from tax increment 
  1.9   financing district number 1-1 that are available and 
  1.10  unencumbered on the date of enactment of this act to finance a 
  1.11  public improvement located outside of the district.  The public 
  1.12  improvement must be included in the tax increment plan prior to 
  1.13  January 1, 1997. 
  1.14     Subd. 2.  [EFFECTIVE DATE.] This section is effective the 
  1.15  day upon approval by the governing body of the city of Deephaven 
  1.16  and compliance with Minnesota Statutes, section 645.021, 
  1.17  subdivision 3, and applies to revenues expended after the date 
  1.18  of final enactment.