MN SF2824

Adds a new qualifying condition for redevelopment districts in Minneapolis and St. Paul: vacant, unused, underused, inappropriately used, or infrequently used property intended or recently occupied for commercial or industrial purposes

Exempts these new commercial/industrial conversion redevelopment districts from the standard "but for" test requirement that municipalities must demonstrate the development would not occur without tax increment financing

Requires county auditors to certify only the land value (excluding building value) as the original tax capacity for parcels containing vacant or underused commercial or industrial buildings, increasing the tax increment available for projects

Effective for tax increment financing districts with certification requests made after June 30, 2025