1.1 	A bill for an act
1.2 	relating to taxation; tax increment financing; extending the five-year rule to ten 
1.3 	years.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. CITY OF MOUNTAIN LAKE; TIF DISTRICT NO. 1-8; FIVE-YEAR 
1.6 	RULE EXTENSION.
 1.7 	The requirement of Minnesota Statutes, section 469.1763, subdivision 3, that activities 
1.8 	must be undertaken within a five-year period from the date of certification of a tax increment 
1.9 	financing district, is considered to be met for Tax Increment Financing District No. 1-8, 
1.10 	administered by the city of Mountain Lake or its economic development authority, if activities 
1.11 	are undertaken within ten years of the district's certification.

1.12 	EFFECTIVE DATE. This section is effective the day after the governing body of the 
1.13 	city of Mountain Lake and its chief clerical officer comply with Minnesota Statutes, section 
1.14 	645.021, subdivisions 2 and 3.