MN SF1952

Extends the five-year rule period to ten years for tax increment financing districts located in nonmetropolitan counties, allowing more time to spend revenues on qualifying activities before funds must be diverted to decertification.

Extends the period before decertification requirements begin from six years to eleven years for tax increment financing districts in nonmetropolitan counties.

Applies these extended timelines to both the initial spending requirements (five-year rule under subdivision 3) and the decertification provisions (subdivision 4) of Minnesota's tax increment financing statutes.

Amends Minnesota Statutes 2022, section 469.1763, subdivisions 3 and 4, to provide nonmetropolitan counties with flexibility comparable to extensions previously granted to districts certified during specific economic circumstances in other time periods.