SF 2970

as introduced - 86th Legislature (2009 - 2010) Posted on 03/02/2010 11:14am

A bill for an act
relating to tax increment financing; city of Landfall Village; extending the
five-year rule for a district.

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

Section 1. new text begin TAX INCREMENT FINANCING; LANDFALL VILLAGE.
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. 1-1 in the city of Landfall Village if the activities were undertaken within
eight 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 Landfall with the requirements of Minnesota Statutes, section 645.021,
subdivision 3.
new text end