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MN SF736

Bill

Official Source

Status

Introduced

1/27/2025

Primary Sponsor

Steve Cwodzinski

Click for details

Origin

Senate

94th Legislature 2025-2026

AI Summary

  • Extends the five-year rule for the Opus tax increment financing (TIF) district in Minnetonka to ten years, allowing more time to spend or obligate TIF funds
  • Extends the period for using increment after the five-year period expires from the standard timeline to 11 years
  • Applies specifically to the Opus TIF district established in 2021 by the Minnetonka Economic Development Authority
  • Exempts the district from Minnesota Statutes section 469.176, subdivision 4j
  • Becomes effective the day after the city of Minnetonka's governing body and chief clerical officer comply with local approval requirements under Minnesota Statutes section 645.021

Legislative Description

Minnetonka special tax increment financing rules authorization

Last Action

Referred to Taxes

1/27/2025

Committee Referrals

Taxes1/27/2025

Full Bill Text

No bill text available