MN SF1953

Removes income limitation requirements for tax increment financing (TIF) housing districts located in nonmetropolitan counties, keeping restrictions only for metropolitan counties as defined by statute.

Maintains the requirement that no more than 20 percent of building square footage receiving TIF assistance may consist of commercial, retail, or other nonresidential uses.

Applies requirements to all property receiving TIF assistance including interest reductions, land transfers, utility services, roads, and parking facilities.

Exempts districts located in targeted areas as defined in statute from these requirements.

Allows authorities to treat building additions as separate structures if construction begins more than three years after the original structure was completed and the addition was not contemplated in the original TIF plan.