Minnesota 2025-2026 Regular Session

Minnesota Senate Bill SF2803 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	1.1 A bill for an act
2	2	1.2 relating to taxation; tax increment financing; authorizing special rules for the city
3	3	1.3 of Minneapolis.
4	4	1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
5	5	1.5 Section 1. CITY OF MINNEAPOLIS; TAX INCREMENT FINANCING
6	6	1.6AUTHORITY.
7	7	1.7 Subdivision 1.Establishment.Under the special rules in subdivision 2, the housing and
8	8	1.8redevelopment authority of the city of Minneapolis may establish not more than three
9	9	1.9redevelopment tax increment financing districts, consisting of parcels, wholly within the
10	10	1.10"downtown" defined as downtown taxing district under Laws 1986, chapter 400, section
11	11	1.1144, as amended by Laws 1995, chapter 264, article 2, section 39, and Laws 2009, chapter
12	12	1.1288, article 4, section 13, together with adjacent roads and rights-of-way.
13	13	1.13 Subd. 2.Special rules.(a) If the authority establishes any tax increment district under
14	14	1.14this section, the following special rules apply:
15	15	1.15 (1) provided the authority finds by resolution that at least 50 percent of the buildings in
16	16	1.16the district require substantial renovation or clearance to remove existing conditions such
17	17	1.17as inadequate street layout; incompatible uses or land use relationships; overcrowding of
18	18	1.18buildings on the land; buildings with significant vacancy rates; underused or inappropriately
19	19	1.19used buildings; obsolete buildings not suitable for commercial use; or other identified hazards
20	20	1.20to the health, safety, and general well-being of the community, the districts are deemed to
21	21	1.21meet all the requirements of Minnesota Statutes, section 469.174, subdivision 10;
22	22	1.22 (2) parcels in the district may be noncontiguous;
23	23	1Section 1.
24	24	25-04828 as introduced03/14/25 REVISOR MS/VJ
25	25	SENATE
26	26	STATE OF MINNESOTA
27	27	S.F. No. 2803NINETY-FOURTH SESSION
28	28	(SENATE AUTHORS: MOHAMED)
29	29	OFFICIAL STATUSD-PGDATE
30	30	Introduction and first reading03/20/2025
31	31	Referred to Taxes 2.1 (3) notwithstanding Minnesota Statutes, section 469.176, subdivision 4l, tax increment
32	32	2.2from a district may be used to clear buildings described in clause (1) for open space or a
33	33	2.3commons area used as a public park;
34	34	2.4 (4) the requirements, limitations, or restrictions under Minnesota Statutes, section
35	35	2.5469.1763, subdivisions 2 and 3, do not apply to any expenditure for, or payment of bonds
36	36	2.6issued to finance, activities within the area described in subdivision 1;
37	37	2.7 (5) the requirements, limitations, or restrictions under Minnesota Statutes, sections
38	38	2.8469.175, subdivision 3, paragraph (b), clause (2), item (ii); 469.176, subdivision 6; and
39	39	2.9469.1763, subdivision 4, do not apply; and
40	40	2.10 (6) the auditor shall certify the value of the land as the original tax capacity for any
41	41	2.11parcel in the district under Minnesota Statutes, section 469.177, subdivision 1.
42	42	2.12 (b) Except as otherwise provided in paragraph (a), the provisions of Minnesota Statutes,
43	43	2.13sections 469.174 to 469.1794, apply to districts established under this section.
44	44	2.14 Subd. 3.Expiration.The authority to request certification of districts under this section
45	45	2.15expires June 30, 2030, unless the city has requested certification of at least one district by
46	46	2.16that date. The authority to request certification of any district under this section expires June
47	47	2.1730, 2034.
48	48	2.18 EFFECTIVE DATE.This section is effective the day after the governing body of the
49	49	2.19city of Minneapolis and its chief clerical officer comply with the requirements of Minnesota
50	50	2.20Statutes, section 645.021, subdivisions 2 and 3.
51	51	2Section 1.
52	52	25-04828 as introduced03/14/25 REVISOR MS/VJ