Minnesota Senate Bill SF2945 Latest Draft

                            1.1	A bill for an act​
1.2 relating to taxation; tax increment financing; authorizing special rules for the city​
1.3 of St. Cloud.​
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:​
1.5 Section 1. CITY OF ST. CLOUD; COOPER AVENUE REDEVELOPMENT TAX​
1.6INCREMENT FINANCING DISTRICT; FIVE-YEAR RULE EXTENSION.​
1.7 The following special rules apply for the Cooper Avenue Redevelopment Tax Increment​
1.8Financing District administered by the city of St. Cloud:​
1.9 (1) the requirement of Minnesota Statutes, section 469.1763, subdivision 3, that activities​
1.10must be undertaken within a five-year period from the date of certification of a tax increment​
1.11financing district, is extended by a five-year period to April 30, 2031; and​
1.12 (2) the requirement of Minnesota Statutes, section 469.176, subdivision 6, that demolition,​
1.13rehabilitation, or renovation of property or other site preparation must be undertaken within​
1.14a four-year period from the date of certification of a tax increment financing district, is​
1.15extended by a four-year period to April 30, 2030.​
1.16 EFFECTIVE DATE.This section is effective the day after the governing body of the​
1.17city of St. Cloud and its chief clerical officer comply with the requirements of Minnesota​
1.18Statutes, section 645.021, subdivisions 2 and 3.​
1​Section 1.​
25-05044 as introduced​03/19/25 REVISOR MS/AC​
SENATE​
STATE OF MINNESOTA​
S.F. No. 2945​NINETY-FOURTH SESSION​
(SENATE AUTHORS: PUTNAM)​
OFFICIAL STATUS​D-PG​DATE​
Introduction and first reading​03/24/2025​
Referred to Taxes​