1.1 	A bill for an act
1.2 	relating to taxation; tax increment financing;
1.3 	authorizing certain expenditures of increment by the
1.4 	city of Rosemount.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. CITY OF ROSEMOUNT; TAX INCREMENT FINANCING.
 1.7 	The city of Rosemount or a development authority of the
1.8 	city may spend increment from its Downtown - Brockway Tax
1.9 	Increment Financing (TIF) District to acquire parcels of
1.10 	property that the Department of Transportation or Dakota County
1.11 	acquired in connection with the realignment of marked Trunk
1.12 	Highway 3, notwithstanding the limits under Minnesota Statutes,
1.13 	section 469.1763, on the amount of increments that may be spent
1.14 	outside of the district or Minnesota Statutes, section 469.176,
1.15 	subdivision 4j, on the purposes for which increments may be
1.16 	spent.

1.17 	EFFECTIVE DATE. This section is effective upon local
1.18 	approval by the governing body of the city of Rosemount under
1.19 	Minnesota Statutes, section 645.021.