MN SF3433

Amends Minnesota Statutes section 469.1763, subdivision 4, to clarify permitted uses of tax increment financing revenues beginning in the sixth year after district certification.

Requires excess tax increment revenues (after permitted expenditures) to be used only for outstanding bonds, contracts, credit enhanced bonds, or amounts specified in the tax increment financing plan.

Specifies that districts must be decertified and tax increment pledges discharged when outstanding bonds are defeased and sufficient money is set aside for contractual obligations and specified plan activities.

Effective for districts certified after April 30, 1990, for increments used after December 31, 2015, and applies as a clarification of the legislature's original statutory intent.