MN HF4127

Extends the five-year tax increment collection rule to 11 years for redevelopment, renewal and renovation, soil condition, and soil deficiency districts in the city of Savage.

Extends the five-year rule under Minnesota Statutes section 469.175, subdivision 4, paragraph (f) to eight years for any district.

Allows up to 40 percent of total tax increment revenue, measured over the district's life, to be expended on activities outside the district but within the project area.

For soil deficiency districts, permits increment collection through 20 years after the authority receives the first increment, with increments used only for land acquisition, soil/terrain correction costs, public improvements, and administrative expenses.

Becomes effective upon compliance with Minnesota Statutes section 645.021 by the city of Savage's governing body and chief clerical officer.