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MN HF4218
Bill
Status
3/26/2018
Primary Sponsor
Andrew Carlson
Click for details
AI Summary
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Extends the five-year requirement for activities in the Port Authority of the City of Bloomington's Tax Increment Financing District No. 1-I (Bloomington Central Station) to a 15-year period.
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Allows the city of Bloomington and its port authority to extend the duration limits of the district through December 31, 2039.
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Requires tax increment for the district to be computed using the current local tax rate effective for taxes payable in 2014, rather than the standard calculation method.
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Takes effect upon the city of Bloomington's compliance with Minnesota Statutes, section 645.021, subdivision 3.
Legislative Description
Bloomington; special tax increment financing authority for the Central Station district modified.
Last Action
Referred by Chair to Property Tax and Local Government Finance Division
4/2/2018