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HF 1508

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/22/2021 02:42pm

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

Bill Text Versions

Engrossments
Introduction Posted on 02/22/2021

Current Version - as introduced

Line numbers 1.1 1.2 1.3 1.4
1.5 1.6 1.7 1.8 1.9 1.10
1.11 1.12 1.13

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

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

Section 1. new text beginCITY OF MOUNTAIN LAKE; TIF DISTRICT NO. 1-8; FIVE-YEAR
RULE EXTENSION.
new text end

new text begin 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 extended by a five-year period for Tax Increment Financing District
No. 1-8, administered by the city of Mountain Lake or its economic development authority.
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 Mountain Lake and its chief clerical officer comply with Minnesota Statutes, section
645.021, subdivisions 2 and 3.
new text end