MN SF2539

Authorizes the economic development authority or city of Duluth to establish one or more tax increment financing redevelopment districts within the Medical Regional Exchange District and East 1st Street Corridor areas bounded by specific streets and Lake Superior waterfront.

Exempts qualifying districts from certain Minnesota Statutes requirements including sections 469.174 subdivision 10; 469.176 subdivisions 4j, 4l, and 5; and 469.1763 subdivisions 2, 3, and 4.

Special rules provisions expire for increment expended after December 31, 2051, after which standard Minnesota Statutes section 469.1763 subdivision 4 provisions apply to any remaining unspent or unobligated increment.

Becomes effective the day after the city of Duluth governing body and chief clerical officer comply with Minnesota Statutes section 645.021 subdivisions 2 and 3 requirements.