SF 3099

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

  1.1                          A bill for an act 
  1.2             relating to the city of West St. Paul and the Dakota 
  1.3             county housing and redevelopment authority; 
  1.4             authorizing certain exceptions to requirements 
  1.5             relating to tax increment financing districts in the 
  1.6             city. 
  1.7   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.8      Section 1.  [CITY OF WEST ST. PAUL; DAKOTA COUNTY HOUSING 
  1.9   AND REDEVELOPMENT AUTHORITY; EXCEPTION TO TAX INCREMENT 
  1.10  FINANCING REQUIREMENTS.] 
  1.11     Subdivision 1.  [GENERALLY.] The city of West St. Paul and 
  1.12  the Dakota county housing and redevelopment authority may 
  1.13  operate the Signal Hills Redevelopment tax increment financing 
  1.14  district (Dakota county housing and redevelopment authority tax 
  1.15  increment financing district #11) hereinafter referred to as 
  1.16  "the district" according to the provisions set forth in this 
  1.17  section. 
  1.18     Subd. 2.  [LOCAL CONTRIBUTION.] The district is exempt from 
  1.19  the reduction in state aid imposed under Minnesota Statutes, 
  1.20  section 273.1399, without making a contribution required under 
  1.21  Minnesota Statutes, section 273.1399, subdivision 6, paragraph 
  1.22  (d), if it contributes each year an amount equal to five percent 
  1.23  of the tax increments from the district received in that year 
  1.24  into a redevelopment account, which may be used for 
  1.25  redevelopment projects in the South Robert Street Redevelopment 
  1.26  tax increment financing district (Dakota county housing and 
  2.1   redevelopment authority tax increment financing district #4). 
  2.2      Subd. 3.  [POOLING.] Notwithstanding Minnesota Statutes, 
  2.3   section 469.1763, subdivision 2, more than 25 percent of the 
  2.4   revenues derived from the tax increment paid from parcels within 
  2.5   the district may be expended on activities outside of the 
  2.6   district if at least the excess above the 25 percent amount is 
  2.7   expended on redevelopment activities in the South Robert Street 
  2.8   Redevelopment tax increment financing district. 
  2.9      Subd. 4.  [TIME LIMIT FOR INITIATING ACTION.] The time 
  2.10  limits for initiation of activity in the district and reporting 
  2.11  the initiation to the county auditor under Minnesota Statutes, 
  2.12  section 469.176, subdivision 6, are extended to five and six 
  2.13  years, respectively. 
  2.14     Subd. 5.  [FIVE-YEAR RULE.] The district is subject to the 
  2.15  requirement of Minnesota Statutes, section 469.1763, subdivision 
  2.16  3, except that the five-year period is extended to a ten-year 
  2.17  period. 
  2.18     Sec. 2.  [EFFECTIVE DATE.] 
  2.19     Section 1 is effective upon approval by the governing body 
  2.20  of the city of West St. Paul and upon compliance with Minnesota 
  2.21  Statutes, section 645.021, subdivision 3.