MN SF135

Authorizes the city of Shakopee to establish tax increment financing districts in a project area comprising four parcels identified by parcel identification numbers 279160102, 279160110, 279170020, and 279160120.

Extends the standard five-year rule under Minnesota Statutes section 469.1763 to ten years for any district and extends the related period to 11 years.

Limits expenditures outside the district to no more than 80 percent of total tax increment revenue measured over the life of the district.

For soil deficiency districts specifically, allows increments to be collected through 20 years after the authority receives the first increment and restricts use of increments to acquiring parcels, correcting soil deficiencies, installing related public improvements, and paying administrative expenses.

Expires the authority to approve new tax increment financing districts under these special rules on December 31, 2026.