MN HF2050

Authorizes the city of Taylors Falls to designate all or part of the city as a border city development zone and exercise powers under Minnesota Statutes, sections 469.1731 to 469.1735.

Limits the cumulative state portion of tax reductions for the city to $100,000 across all years of the program.

Allows the $100,000 allocation to fund tax reductions or reimbursements only if the city determines they are necessary to enable business expansion or attraction within the city.

Grants the commissioner of revenue authority to waive the $100,000 limit using the same rules and standards in Minnesota Statutes, section 469.169, subdivision 12, paragraph (b).

Takes effect upon approval by the Taylors Falls governing body and compliance with Minnesota Statutes, section 645.021.