MN SF1691

Amends Minnesota Statutes 2022, section 469.176, subdivision 4c, to modify restrictions on tax increment financing use in economic development districts.

Allows tax increment revenue to fund improvements, loans, subsidies, and grants for developments where up to 15 percent of square footage (by area) serves non-qualifying purposes, maintaining eligibility for manufacturing, warehousing, research and development, telemarketing, tourism, and workforce housing projects.

Permits up to 15,000 square feet of separately owned commercial facilities in small cities to receive tax increment assistance, with the limitation applying only to the first floor in multilevel facilities.

Defines workforce housing projects as eligible uses if increments assist rental housing development, the municipality makes required findings, and both county and school district governing bodies approve the tax increment financing plan by resolution.

Effective for economic development districts where certification requests were made after December 31, 2021.