MN SF2041

Increases the maximum percentage of tax increment financing (TIF) revenue that can be spent outside a district from 10 to 15 percentage points for qualifying housing activities

Adds transfers to local housing trust funds established under section 462C.16 as a new eligible use for TIF increment spent outside the district

Requires funds transferred to housing trust funds to serve households at or below 60% of area median income for rental housing, and at or below 120% of area median income for homeownership housing

Exempts increment transferred to housing trust funds from the statutory definition of "increment" and from annual TIF reporting requirements

Effective the day following final enactment