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MN HF2643
Bill
Status
3/5/2012
Primary Sponsor
Joe McDonald
Click for details
AI Summary
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Modifies the definition of "redevelopment district" under Minnesota's tax increment financing law by changing the structural substandard building threshold from "more than 50 percent" to "50 percent or more" of buildings in the district.
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Allows municipalities to determine buildings are not structurally substandard based on reasonably available evidence without requiring an independent expert appraisal of repair costs.
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Permits municipalities to skip interior property inspections if unable to gain access after best efforts and if other evidence (fire inspections, tax appraisals, exterior deterioration) supports a finding of structural substandard conditions.
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Requires written documentation of findings and reasons when interior inspections are not conducted, to be retained under section 469.175, subdivision 3.
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Effective the day following final enactment.
Legislative Description
Tax increment financing definitions modified.
Last Action
Introduction and first reading, referred to Taxes
3/5/2012