Bill Text: MN HF1905 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Eagan; tax increment collection time period extended, and current local tax rate authorized to be used to compute tax increment, and five-year rule extended.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Introduced - Dead) 2014-03-04 - Referred by Chair to Property and Local Tax Division [HF1905 Detail]
Download: Minnesota-2013-HF1905-Introduced.html
1.2relating to taxation; tax increment financing; extending the period for the city of
1.3Eagan to collect tax increment; authorizing that the current local tax rate be used
1.4to compute tax increment; extending five-year rule.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. CITY OF EAGAN; TAX INCREMENT FINANCING.
1.7 Subdivision 1. Duration of district. Notwithstanding the provisions of Minnesota
1.8Statutes, section 469.176, subdivision 1b, or any other law to the contrary, the city of
1.9Eagan may collect tax increment from the Cedar Grove Tax Increment Financing District
1.10through December 31, 2044.
1.11 Subd. 2. Tax rate. Effective for taxes payable in 2015, tax increment for the district
1.12must be computed using the current local tax rate, notwithstanding the provisions of
1.13Minnesota Statutes, section 469.177, subdivision 1a.
1.14 Subd. 3. Five-year rule. The requirements of Minnesota Statutes, section 469.1763,
1.15subdivision 3, that activities must be undertaken within a five-year period from the date of
1.16certification of a tax increment financing district, is considered to be met for the Cedar
1.17Grove Tax Increment Financing District if the activities are undertaken within 15 years
1.18from the date of certification of the district.
1.19EFFECTIVE DATE.This section is effective upon compliance by the governing
1.20bodies of the city of Eagan, Dakota County, and Independent School District No. 191 with
1.21the requirements of Minnesota Statutes, sections 469.1782, subdivision 2, and 645.021,
1.22subdivision 3.
1.3Eagan to collect tax increment; authorizing that the current local tax rate be used
1.4to compute tax increment; extending five-year rule.
1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.6 Section 1. CITY OF EAGAN; TAX INCREMENT FINANCING.
1.7 Subdivision 1. Duration of district. Notwithstanding the provisions of Minnesota
1.8Statutes, section 469.176, subdivision 1b, or any other law to the contrary, the city of
1.9Eagan may collect tax increment from the Cedar Grove Tax Increment Financing District
1.10through December 31, 2044.
1.11 Subd. 2. Tax rate. Effective for taxes payable in 2015, tax increment for the district
1.12must be computed using the current local tax rate, notwithstanding the provisions of
1.13Minnesota Statutes, section 469.177, subdivision 1a.
1.14 Subd. 3. Five-year rule. The requirements of Minnesota Statutes, section 469.1763,
1.15subdivision 3, that activities must be undertaken within a five-year period from the date of
1.16certification of a tax increment financing district, is considered to be met for the Cedar
1.17Grove Tax Increment Financing District if the activities are undertaken within 15 years
1.18from the date of certification of the district.
1.19EFFECTIVE DATE.This section is effective upon compliance by the governing
1.20bodies of the city of Eagan, Dakota County, and Independent School District No. 191 with
1.21the requirements of Minnesota Statutes, sections 469.1782, subdivision 2, and 645.021,
1.22subdivision 3.
