MN HF4595

Amends Minnesota Statutes section 469.1763, subdivision 2, regarding tax increment financing district expenditure requirements.

Adds new paragraph (f) allowing authorities to increase permitted expenditures for activities outside the geographic district area by up to 35 percentage points for residential rental housing with 10 percent or more units occupied by individuals earning 30 percent or less of area median gross income.

Expenditures under the new provision are permitted notwithstanding existing restrictions in section 469.176, subdivisions 4b, 4c, and 4j.

Applies retroactively to all tax increment financing districts regardless of certification date, effective the day following final enactment.