MN SF2919

Establishes a new category of tax increment financing (TIF) districts called "transit improvement districts" for areas within one-half mile of qualifying transit lines, including light rail, commuter rail, bus rapid transit, or streetcar lines.

Permits transit improvement districts to use tax increment revenues for transit station improvements, green space, streetscape enhancements, paratransit/circulator systems, transit improvement loans, streetcar capital and operating costs, and mitigation costs related to the qualifying transit line.

Sets the maximum duration for transit improvement districts at 25 years from receipt of the first increment, matching the duration allowed for housing and redevelopment districts.

Requires municipalities to approve TIF plans for transit improvement districts and make written findings that the district is in the public interest because it will increase transit effectiveness.

Effective for requests for certification made after June 30, 2010.