MN SF109

Amends existing 2013 law governing special tax increment financing (TIF) rules for the City of Maplewood's "3M Renovation and Retention Project Area" (parcel 362922240002)

Extends the five-year rule for TIF expenditures to ten years, giving the city additional time to spend captured tax increment

Expands the geographic area where TIF expenditures may be made beyond the project area to include the zone bounded by State Highway 61, Interstate 694, McKnight Road, and Frost Avenue

Removes the December 31, 2018 expiration date for the city's authority to approve TIF plans and establish TIF districts under these special rules

Becomes effective the day after the City of Maplewood complies with local approval requirements under Minnesota Statutes section 645.021