MN SF5254

Authorizes the city of Brooklyn Park to establish three new tax increment financing (TIF) districts in the Village Creek Area, 610/Zane Area, and BioTech Area, with authority to request certification expiring December 31, 2044.

Permits TIF increment from Districts Nos. 18 and 20 to be collected for 25 years and transferred to District No. 3 for infrastructure, building improvements, and environmental sustainability projects without county redistribution.

Establishes a value capture district within one-quarter mile of METRO Blue Line Light Rail stations to fund transit-oriented development, antidisplacement programs, public spaces, and infrastructure over up to 25 years.

Exempts materials and supplies for 12 specified Brooklyn Park projects from sales and use tax if purchased between February 28, 2023, and April 1, 2030, including fire stations, recreation centers, and water treatment facilities.

Modifies property tax abatement limitations under Minnesota Statutes to allow the city to use abated taxes for public infrastructure projects without restrictions or counting toward statewide abatement limits.