MN HF3758

Amends Minnesota Statutes 2014, section 469.1763, subdivision 4, to clarify permitted uses of tax increment financing (TIF) revenues in districts beginning in the sixth year following certification.

Requires that surplus tax increment revenues (exceeding annual permitted expenditures) must be used exclusively to pay or defease outstanding bonds, fulfill contracts, pay credit-enhanced bonds, or fund amounts specified in the TIF plan.

Establishes decertification requirements: districts must be decertified when outstanding bonds are defeased and sufficient money is set aside for contractual obligations, qualified activities, and housing activities through the end of the calendar year.

Applies to districts with certification requests made after April 30, 1990, for increments used after December 31, 2015.

States that amendments represent a clarification and confirmation of the legislature's original intention and must not be construed to alter the meaning of the statute for increments used in prior years.