MN HF3711

Authorizes the city of Duluth to create a regional exchange district in the medical district area to facilitate development, redevelopment, and private investment in the region.

Establishes an eight-member Regional Exchange District Advisory Board (REDAB) including representatives from the city, county, port authority, and the largest private medical employer to develop and oversee district development plans.

Exempts construction materials, equipment, and supplies used in buildings and infrastructure within the district from sales tax from July 1, 2018, through June 30, 2035.

Authorizes the city to issue bonds without voter approval and provides multiple financing mechanisms including tax abatement, tax increment financing, and state appropriation support payments of up to $15,000,000 annually (capped at $184,000,000 total) for public infrastructure projects through fiscal year 2054.

Extends the city's existing local sales taxes on hotel/motel receipts and general sales for ten years beyond their original expiration dates, with revenues dedicated to funding regional exchange district infrastructure projects.