| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to taxation; tax increment financing; proposing special rules for the city |
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| 3 | 3 | | 1.3 of St. Paul; amending Laws 2017, First Special Session chapter 1, article 6, section |
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| 4 | 4 | | 1.4 22. |
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| 5 | 5 | | 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 6 | 6 | | 1.6 Section 1. Laws 2017, First Special Session chapter 1, article 6, section 22, is amended |
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| 7 | 7 | | 1.7to read: |
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| 8 | 8 | | 1.8 Sec. 22. CITY OF ST. PAUL; FORD SITE REDEVELOPMENT TIF DISTRICT. |
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| 9 | 9 | | 1.9 (a) For purposes of computing the duration limits under Minnesota Statutes, section |
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| 10 | 10 | | 1.10469.176, subdivision 1b, the housing and redevelopment authority of the city of St. Paul |
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| 11 | 11 | | 1.11may waive receipt of increment for the Ford Site Redevelopment Tax Increment Financing |
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| 12 | 12 | | 1.12District. This authority is limited to the first four years of increment or increments derived |
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| 13 | 13 | | 1.13from taxes payable in 2023, whichever occurs first. |
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| 14 | 14 | | 1.14 (b) If the city elects to waive receipt of increment under paragraph (a), for purposes of |
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| 15 | 15 | | 1.15applying any limits based on when the district was certified under Minnesota Statutes, |
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| 16 | 16 | | 1.16section 469.176, subdivision 6, or 469.1763, the date of certification for the district is deemed |
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| 17 | 17 | | 1.17to be January 2 of the property tax assessment year for which increment is first received |
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| 18 | 18 | | 1.18under the waiver. |
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| 19 | 19 | | 1.19 (c) The five-year period under Minnesota Statutes, section 469.1763, subdivision 3, is |
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| 20 | 20 | | 1.20extended to ten years and the period under Minnesota Statutes, section 469.1763, subdivision |
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| 21 | 21 | | 1.214, relating to the use of increment after the expiration of the five-year period, is extended |
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| 22 | 22 | | 1Section 1. |
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| 23 | 23 | | REVISOR MS/EN 25-0432102/25/25 |
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| 24 | 24 | | State of Minnesota |
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| 25 | 25 | | This Document can be made available |
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| 26 | 26 | | in alternative formats upon request |
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| 27 | 27 | | HOUSE OF REPRESENTATIVES |
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| 28 | 28 | | H. F. No. 2035 |
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| 29 | 29 | | NINETY-FOURTH SESSION |
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| 30 | 30 | | Authored by Pinto03/10/2025 |
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| 31 | 31 | | The bill was read for the first time and referred to the Committee on Taxes 2.1to 11 years for the Ford Site Redevelopment Tax Increment Financing District in the city |
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| 32 | 32 | | 2.2of St. Paul. |
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| 33 | 33 | | 2.3 EFFECTIVE DATE.This section is effective the day after the governing body of the |
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| 34 | 34 | | 2.4city of St. Paul and its chief clerical officer comply with the requirements of Minnesota |
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| 35 | 35 | | 2.5Statutes, section 645.021, subdivisions 2 and 3. |
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| 36 | 36 | | 2Section 1. |
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| 37 | 37 | | REVISOR MS/EN 25-0432102/25/25 |
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