SF 229

as introduced - 88th Legislature (2013 - 2014) Posted on 02/08/2013 08:55am

A bill for an act
relating to taxation; authorizing the Dakota County Community Development
Agency to create a tax increment financing district subject to special rules.

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

Section 1. DAKOTA COUNTY COMMUNITY DEVELOPMENT AGENCY;
TAX INCREMENT FINANCING DISTRICT.

Subdivision 1.

Authorization.

Notwithstanding the provisions of any other law,
the Dakota County Community Development Agency may establish a redevelopment tax
increment financing district comprised of the properties that were:

(1) included in the CDA 10 Robert and South Street district in the city of West
St. Paul; and

(2) not decertified before July 1, 2012.

The district created under this section terminates no later than December 31, 2028.

Subd. 2.

Special rules.

The requirements for qualifying a redevelopment district
under Minnesota Statutes, section 469.174, subdivision 10, do not apply to parcels located
within the district. Minnesota Statutes, section 469.176, subdivisions 4g, paragraph (c),
clause (1), item (ii), 4j, and 4l, do not apply to the district. The original tax capacity
of the district is $93,239.

Subd. 3.

Authorized expenditures.

Tax increment from the district may be
expended to pay for any eligible activities authorized by Minnesota Statutes, chapter 469,
within the redevelopment area that includes the district. All expenditures for eligible
activities are deemed to be activities within the district under Minnesota Statutes, section
469.1763, subdivisions 2 to 4.

Subd. 4.

Adjusted net tax capacity.

The captured tax capacity of the district must
be included in the adjusted net tax capacity of the city, county, and school district for the
purposes of determining local government aid, education aid, and county program aid.
The county auditor shall report to the commissioner of revenue the amount of the captured
tax capacity for the district at the time the assessment abstracts are filed.

EFFECTIVE DATE.

This section is effective upon compliance by the governing
body of the Dakota County Community Development Agency with the requirements of
Minnesota Statutes, section 645.021, subdivision 3.