Minnesota Senate Bill SF736 Introduced / Bill

                    1.1	A bill for an act​
1.2 relating to taxation; tax increment financing; authorizing special rules for the city​
1.3 of Minnetonka.​
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:​
1.5 Section 1. CITY OF MINNETONKA; OPUS TIF DISTRICT; FIVE-YEAR RULE​
1.6EXTENSION.​
1.7 (a) The five-year period under Minnesota Statutes, section 469.1763, subdivision 3, is​
1.8extended to ten years and the period under Minnesota Statutes, section 469.1763, subdivision​
1.94, relating to the use of increment after the expiration of the five-year period, is extended​
1.10to 11 years for the Opus tax increment financing district established in 2021 by the economic​
1.11development authority in the city of Minnetonka.​
1.12 (b) Minnesota Statutes, section 469.176, subdivision 4j, does not apply to the district.​
1.13 EFFECTIVE DATE.This section is effective the day after the governing body of the​
1.14city of Minnetonka and its chief clerical officer comply with the requirements of Minnesota​
1.15Statutes, section 645.021, subdivisions 2 and 3.​
1​Section 1.​
25-02346 as introduced​01/17/25 REVISOR MS/AC​
SENATE​
STATE OF MINNESOTA​
S.F. No. 736​NINETY-FOURTH SESSION​
(SENATE AUTHORS: CWODZINSKI)​
OFFICIAL STATUS​D-PG​DATE​
Introduction and first reading​01/27/2025​
Referred to Taxes​