as introduced - 91st Legislature (2019 - 2020) Posted on 03/12/2020 02:39pm
A bill for an act
relating to taxation; property and local; authorizing the city of Maple Plain to
establish a tax increment financing district.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
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The city of Maple Plain may establish within PID numbers
2411824340069 and 2411824340028 a redevelopment tax increment financing district
subject to the special rules under subdivision 2.
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If the city elects to adopt a tax increment financing plan and
establish a tax increment financing district, the following rules apply to the district:
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(1) the district is deemed to meet all the requirements of Minnesota Statutes, section
469.174, subdivision 10; and
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(2) the five-year rule under Minnesota Statutes, section 469.1763, subdivision 3, is
extended to a ten-year period.
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The authority to approve a tax increment financing plan to establish
a tax increment financing district under this section expires December 31, 2025.
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This section is effective the day after the governing body of the
city of Maple Plain and its chief clerical officer comply with the requirements of Minnesota
Statutes, section 645.021.
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