1.1 A bill for an act
1.2 relating to taxation; tax increment financing; authorizing special rules for the city
1.3 of Plymouth.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. CITY OF PLYMOUTH; TAX INCREMENT FINANCING;
1.6ESTABLISHMENT.
1.7 Subdivision 1.Establishment.Under the special rules established in subdivision 2, the
1.8city of Plymouth may establish not more than two redevelopment districts located wholly
1.9within the city of Plymouth, Hennepin County, Minnesota, limited to the area identified as
1.10the city center district in the Plymouth, Minnesota Zoning Map in effect on January 1, 2024,
1.11and adopted pursuant to section 21000.12 of the Plymouth Zoning Code of Ordinances.
1.12 Subd. 2.Special rules.If the city establishes a tax increment financing district under
1.13this section, the following special rules apply:
1.14 (1) the district is deemed to meet the requirements of Minnesota Statutes, section 469.174,
1.15subdivision 10;
1.16 (2) Minnesota Statutes, section 469.176, subdivision 4j, does not apply to the district;
1.17and
1.18 (3) the five-year period under Minnesota Statutes, section 469.1763, subdivision 3, is
1.19extended to ten years, and the period under Minnesota Statutes, section 469.1763, subdivision
1.204, relating to the use of increment after the expiration of the five-year period, is extended
1.21to 11 years.
1Section 1.
25-00262 as introduced10/25/24 REVISOR MS/HL
SENATE
STATE OF MINNESOTA
S.F. No. 63NINETY-FOURTH SESSION
(SENATE AUTHORS: WESTLIN)
OFFICIAL STATUSD-PGDATE
Introduction and first reading01/16/2025
Referred to Taxes 2.1 Subd. 3.Expiration.The authority to approve a tax increment financing plan to establish
2.2a tax increment financing district under this section expires December 31, 2031.
2.3 EFFECTIVE DATE.This section is effective the day after the governing body of the
2.4city of Plymouth and its chief clerical officer comply with the requirements of Minnesota
2.5Statutes, section 645.021, subdivisions 2 and 3.
2Section 1.
25-00262 as introduced10/25/24 REVISOR MS/HL