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MN HF2989
Bill
Status
4/2/2012
Primary Sponsor
Bob Dettmer
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AI Summary
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Extends the duration of Tax Increment Financing District No. 21 in Forest Lake through December 31, 2025, allowing continued collection of tax increments by the Forest Lake Economic Development Authority and city of Forest Lake.
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Restricts tax increments collected after December 31, 2015, to fund only redevelopment costs related to 27 specifically identified parcels within the district.
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Requires all funded projects to be otherwise eligible under state law for payment with tax increment financing district revenues.
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Takes effect upon compliance with Minnesota Statutes sections 469.1782, subdivision 2, and 645.021, subdivision 3.
Legislative Description
Forest Lake and Forest Lake Economic Development Authority tax increment financing authorized and authority extended.
Last Action
Introduction and first reading, referred to Taxes
4/2/2012