1.1 	A bill for an act
1.2 	relating to the port authority of Winona; extending
1.3 	the duration of a tax increment district.
1.4 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.5 	Section 1. EXTENSION OF DURATION OF TAX INCREMENT
1.6 	DISTRICT.
 1.7 		Subdivision 1.Duration. Notwithstanding the provisions
1.8 	of Minnesota Statutes, section 469.176, subdivision 1b, the
1.9 	duration of riverfront tax increment financing district number
1.10 	2, approved by the port authority of Winona on July 15, 1980, is
1.11 	extended to December 31, 2020.  Any tax increment received after
1.12 	December 31, 2005, must be used solely to pay capital and
1.13 	administrative costs of transportation improvements related to
1.14 	the Pelzer Street project.
1.15 		Subd. 2.Exception. The provisions of Minnesota
1.16 	Statutes, section 469.1782, subdivision 2, do not apply to this
1.17 	section.
1.18 	
EFFECTIVE DATE. This section is effective upon approval
1.19 	by the governing body of the port authority of Winona and
1.20 	compliance with Minnesota Statutes, section 645.021.