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HF 1426

as introduced - 88th Legislature (2013 - 2014) Posted on 03/11/2013 02:41pm

KEY: stricken = removed, old language.
underscored = added, new language.

Bill Text Versions

Engrossments
Introduction Posted on 03/11/2013

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
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A bill for an act
relating to the city of Taylors Falls; authorizing the city of Taylors Falls to establish
and exercise border city development zone powers; appropriating money.

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

Section 1. new text beginCITY OF TAYLORS FALLS; BORDER CITY DEVELOPMENT
ZONE.
new text end

new text begin Subdivision 1. new text end

new text begin Authorization. new text end

new text begin The governing body of the city of Taylors Falls may
designate all or any part of the city as a border city development zone.
new text end

new text begin Subd. 2. new text end

new text begin Application of general law. new text end

new text begin (a) Minnesota Statutes, sections 469.1731 to
469.1735, apply to the border city development zones designated under this section. The
governing body of the city may exercise the powers granted under Minnesota Statutes,
sections 469.1731 to 469.1735, including powers that apply outside of the zones.
new text end

new text begin (b) The allocation under subdivision 3 for purposes of Minnesota Statutes, section
469.1735, subdivision 2, is appropriated to the commissioner of revenue.
new text end

new text begin Subd. 3. new text end

new text begin Allocation of state tax reductions. new text end

new text begin (a) The cumulative total amount of the
state portion of the tax reductions for all years of the program under Minnesota Statutes,
sections 469.1731 to 469.1735, for the city of Taylors Falls, is limited to $100,000.
new text end

new text begin (b) This allocation may be used for tax reductions provided in Minnesota Statutes,
section 469.1732 or 469.1734, or for reimbursements under Minnesota Statutes, section
469.1735, subdivision 3, but only if the governing body of the city of Taylors Falls
determines that the tax reduction or offset is necessary to enable a business to expand
within the city or to attract a business to the city.
new text end

new text begin (c) The commissioner of revenue may waive the limit under this subdivision using
the same rules and standards provided in Minnesota Statutes, section 469.169, subdivision
12, paragraph (b).
new text end

Sec. 2. new text beginEFFECTIVE DATE; LOCAL APPROVAL.
new text end

new text begin Section 1 is effective upon approval by the governing body of the city of Taylors
Falls and upon timely compliance by the city with Minnesota Statutes, section 645.021.
new text end