MN HF3202

Extends the five-year rule for tax increment financing (TIF) districts to 10 years and eliminates certain statutory limitations on TIF district use.

Allows the city of Burnsville to specify a delayed start date for receiving tax increment of up to 8 years following district approval.

Permits the city to waive any increment received in 2016 without affecting the duration limit for districts created under this section.

Extends the four-year rule for TIF spending to nine years and limits outside-district spending to no more than 80 percent of total revenue derived from tax increments.

Extends the authority to approve new tax increment financing districts from December 31, 2018 to March 20, 2023.