SF 3247

as introduced - 89th Legislature (2015 - 2016) Posted on 03/30/2016 08:43am

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

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

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

new text begin The requirements 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, are considered to be met for the Riverfront Tax Increment
Financing District in the city of Northfield, if the activities are undertaken prior to July
12, 2019.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day after the governing body of
the city of Northfield and its chief clerical officer comply with Minnesota Statutes, section
645.021, subdivisions 2 and 3.
new text end