| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to taxation; tax increment financing; authorizing special rules for the city |
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| 3 | 3 | | 1.3 of Brooklyn Center. |
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| 4 | 4 | | 1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 5 | 5 | | 1.5 Section 1. CITY OF BROOKLYN CENTER; TIF AUTHORITY. |
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| 6 | 6 | | 1.6 Subdivision 1.Establishment.Under the special rules established in subdivision 2, the |
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| 7 | 7 | | 1.7economic development authority of the city of Brooklyn Center or the city of Brooklyn |
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| 8 | 8 | | 1.8Center may establish not more than two redevelopment tax increment financing districts |
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| 9 | 9 | | 1.9located wholly within the area in the city identified as the "Opportunity Site," which includes |
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| 10 | 10 | | 1.10the area bounded by Shingle Creek Parkway from Hennepin County State-Aid Highway |
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| 11 | 11 | | 1.1110 to Summit Drive North; Summit Drive North from Shingle Creek Parkway to marked |
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| 12 | 12 | | 1.12Trunk Highway 100; marked Trunk Highway 100 from Summit Drive North to Hennepin |
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| 13 | 13 | | 1.13County State-Aid Highway 10; and Hennepin County State-Aid Highway 10 from marked |
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| 14 | 14 | | 1.14Trunk Highway 100 to Shingle Creek Parkway, together with internal and adjacent roads |
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| 15 | 15 | | 1.15and rights of way. |
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| 16 | 16 | | 1.16 Subd. 2.Special rules.If the city or the authority establishes a tax increment financing |
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| 17 | 17 | | 1.17district under this section, the following special rules apply: |
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| 18 | 18 | | 1.18 (1) the district is deemed to meet all the requirements of Minnesota Statutes, section |
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| 19 | 19 | | 1.19469.174, subdivision 10; and |
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| 20 | 20 | | 1.20 (2) Minnesota Statutes, section 469.176, subdivision 4j, does not apply to the district. |
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| 21 | 21 | | 1.21 Subd. 3.Expiration.The authority to approve a tax increment financing plan to establish |
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| 22 | 22 | | 1.22a tax increment financing district under this section expires on December 31, 2031. |
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| 23 | 23 | | 1Section 1. |
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| 24 | 24 | | 25-00252 as introduced10/25/24 REVISOR MS/VJ |
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| 25 | 25 | | SENATE |
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| 26 | 26 | | STATE OF MINNESOTA |
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| 27 | 27 | | S.F. No. 85NINETY-FOURTH SESSION |
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| 28 | 28 | | (SENATE AUTHORS: PHA) |
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| 29 | 29 | | OFFICIAL STATUSD-PGDATE |
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| 30 | 30 | | Introduction and first reading01/16/2025 |
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| 31 | 31 | | Referred to Taxes 2.1 EFFECTIVE DATE.This section is effective the day after the governing body of the |
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| 32 | 32 | | 2.2city of Brooklyn Center and its chief clerical officer comply with the requirements of |
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| 33 | 33 | | 2.3Minnesota Statutes, section 645.021, subdivisions 2 and 3. |
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| 34 | 34 | | 2Section 1. |
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| 35 | 35 | | 25-00252 as introduced10/25/24 REVISOR MS/VJ |
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