MN SF2594

Extends the period for expending tax increment financing revenues from five years to eight years after district certification for districts certified after June 30, 2007.

Changes the timeline when districts must begin using revenues for decertification purposes from the sixth year to the ninth year following certification.

Maintains existing in-district expenditure requirements (75-80 percent) and out-of-district limits (20-25 percent) for tax increment use within the geographic project area.

Allows authorities to extend the expenditure period for housing and infrastructure activities, including qualified low-income housing and biotechnology/health sciences zone projects, under specified conditions.

Applies effective date retroactively to districts for which certification requests were made after June 30, 2007.