as introduced - 91st Legislature (2019 - 2020) Posted on 03/10/2020 08:43am
A bill for an act
relating to taxation; tax increment financing; extending the five-year rule to ten
years.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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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. 1-8,
administered by the city of Mountain Lake or its economic development authority, if activities
are undertaken within ten years of the district's certification.
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This section is effective the day after the governing body of the
city of Mountain Lake and its chief clerical officer comply with Minnesota Statutes, section
645.021, subdivisions 2 and 3.
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