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SF 307

as introduced - 90th Legislature (2017 - 2018) Posted on 04/03/2017 08:48am

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

Current Version - as introduced

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A bill for an act
relating to taxation; tax increment financing; modifying provisions for the city of
Coon Rapids.

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

Section 1. new text begin CITY OF COON RAPIDS; TAX INCREMENT FINANCING.
new text end

new text begin (a) Effective for taxes payable in 2018, the city of Coon Rapids may elect to compute
tax increment for District 6-1 Port Riverwalk using the current local tax rate notwithstanding
the provisions of Minnesota Statutes, section 469.177, subdivision 1a.
new text end

new text begin (b) Notwithstanding the provisions of Minnesota Statutes, section 469.176, subdivision
1b, or any other law to the contrary, the city of Coon Rapids may collect tax increment from
District 6-1 Port Riverwalk through December 31, 2040.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin Paragraph (a) is effective upon compliance by the governing
body of the city of Coon Rapids with the requirements of Minnesota Statutes, section
645.021, subdivision 3. Paragraph (b) is effective upon compliance by the governing bodies
of the city of Coon Rapids, Anoka County, and Independent School District No. 11 with
the requirements of Minnesota Statutes, sections 469.1782, subdivision 2, and 645.021,
subdivision 3.
new text end