MN HF1315

Creates special taxing districts to capture incremental property tax revenues to pay operating and capital maintenance costs of light rail transit and bus rapid transit lines when fare revenues are insufficient.

District boundaries include any parcel of class 3 or class 4 property located within 1,000 feet of the fixed guideway line right-of-way, excluding parcels in tax increment financing districts certified before February 15, 2017.

County auditor certifies original net tax capacity of the district and annually adjusts it by the average percentage change in class 3 property tax capacity in the county, with tax increments captured and paid to the council for transit operating and capital costs.

Prohibits creation of new tax increment financing districts within the special taxing district area for operating or designated fixed guideway lines and prohibits abatement of incremental taxes for the special taxing district.

Effective for property taxes payable in 2019 and applies only in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties.