Loading chat...
MN HF1065
Bill
Status
Introduced
2/17/2025
Primary Sponsor
Patty Acomb
Click for details
AI Summary
- Extends the five-year rule for the Opus tax increment financing (TIF) district in Minnetonka to ten years, allowing the city more time to spend TIF revenues on eligible activities
- Extends the deadline for using increment after the initial period expires from 6 years to 11 years for this district
- Applies specifically to the Opus TIF district established in 2021 by Minnetonka's economic development authority
- Exempts this district from certain state TIF restrictions under Minnesota Statutes section 469.176, subdivision 4j
- Becomes effective after the city of Minnetonka's governing body and chief clerical officer complete required local approval procedures
Legislative Description
Tax increment financing; special rules authorized for Minnetonka.
Last Action
Author added Davids
3/10/2025
Committee Referrals
Taxes2/20/2025
Capital Investment2/17/2025
Full Bill Text
No bill text available