Minnesota Legislature
SF 3207
as introduced - 93rd Legislature (2023 - 2024) Posted on 06/13/2023 10:18am
Current Version - as introduced
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A bill for an act
relating to taxation; providing special tax increment financing authority to the city
of St. Paul; amending Laws 2008, chapter 366, article 5, section 36, subdivisions
1, 3, as amended.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Laws 2008, chapter 366, article 5, section 36, subdivision 1, is amended to
read:
Subdivision 1.
Authorization.
Notwithstanding the provisions of any other law, upon
approval of the governing body of the city of St. Paul, the Housing and Redevelopment
Authority of the city of St. Paul may establish a redevelopment tax increment financing
district comprised of the properties included in the existing downtown and Seventh Place
tax increment district (County #82). Notwithstanding Minnesota Statutes, section 469.177,
subdivision 6, if certification of the district is requested by July 31, 2008, the certification
will be recognized by the county auditor in determining local tax rates for taxes payable in
2009 and subsequent years. The district created under this section terminates December 31,
deleted text begin 2023deleted text end new text begin 2033new text end . The city may create the district under this section only if it enters into an
agreement with Ramsey County to pay the county annually out of the increment from this
districtnew text begin , for taxes payable years 2009 through 2023,new text end an amount equal to the tax that would
have been payable to the county on the captured tax capacity of the district had the district
not been created.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective without local approval under Minnesota
Statutes, section 645.023, subdivision 1, paragraph (a).
new text end
Sec. 2.
Laws 2008, chapter 366, article 5, section 36, subdivision 3, as amended by Laws
2014, chapter 150, article 5, section 5, is amended to read:
Subd. 3.
Authorized expenditures.
Tax increment from the district may be expended
only to pay principal and interest on bond obligations issued by the city of St. Paul in 2009
for the RiverCentre Arena, including payment of principal and interest on any bonds issued
to repay the bonds or loansnew text begin , as amended in 2014, but only through taxes payable year 2023new text end .
new text begin Commencing with taxes payable year 2024, tax increments from the district may be expended
to facilitate capital improvements within the city's RiverCentre complex, including but not
limited to the St. Paul RiverCentre, Xcel Energy Center, Roy Wilkins Auditorium, and St.
Paul RiverCentre Parking Ramp and adjacent areas controlled by the city. new text end All such
expenditures are deemed to be activities within the district under Minnesota Statutes, section
469.1763, subdivisions 2, 3, and 4.
new text begin EFFECTIVE DATE. new text end
new text begin
This section is effective without local approval under Minnesota
Statutes, section 645.023, subdivision 1, paragraph (a).
new text end