HF3776 Summary

• Creates a metropolitan congestion management component of the corridors of commerce program focused on reducing congestion and improving mobility in the seven-county metropolitan area (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington Counties).

• Establishes a corridors of commerce account in the trunk highway fund and authorizes the commissioner of transportation to request trunk highway bonds, with debt service limited to 90 percent of annual account funds.

• Modifies the metropolitan fiscal disparities program by reducing the areawide net tax capacity pool from 40 percent to 37 percent of commercial-industrial property increases and dedicates $24 million to the metropolitan congestion management pool.

• Implements caps on fiscal disparities distributions for municipalities with residential property market values above 105 percent of the area average, with excess amounts redirected to the congestion management pool.

• All provisions effective July 1, 2018, except fiscal disparities reforms and certain aid calculations which become effective for taxes payable in 2019 and thereafter.