Bill Text: MN SF2836 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Bloomington Old Cedar avenue bridge project tax increment financing (TIF) district fund use expansion
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2014-03-20 - Referred to Taxes [SF2836 Detail]
Download: Minnesota-2013-SF2836-Introduced.html
1.2relating to the city of Bloomington; authorizing the use of certain tax increment
1.3funds; amending Laws 2013, chapter 143, article 9, section 23.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Laws 2013, chapter 143, article 9, section 23, is amended to read:
1.6 Sec. 23. CITY OF BLOOMINGTON; OLD CEDAR AVENUE BRIDGE.
1.7 (a) Notwithstanding any law to the contrary, the city of Bloomington shall transfer
1.8from the tax increment financing accounts for its Tax Increment Financing District No.
1.91-C and Tax Increment Financing District No. 1-G an amount equal to the tax increment
1.10for each district that is computed under the provisions of Minnesota Statutes, section
1.11473F.08, subdivision 3c
, for taxes payable in 2014 to an account or fund established for
1.12the repair, restoration, or replacement of the Old Cedar Avenue bridge for use by bicycle
1.13commuters and recreational users. The city is authorized to and must use the transferred
1.14funds to complete the repair, renovation, or replacement of the bridge. Upon completion
1.15of the repair, renovation, or replacement of the bridge, the city may use any remaining
1.16funds in the account for costs of improving bicycle and pedestrian trails that access the
1.17bridge and that use is deemed to be a permitted use of the increments.
1.18 (b) No signs, plaques, or markers acknowledging or crediting donations for,
1.19sponsorships of, or naming rights may be posted on or in the vicinity of the Old Cedar
1.20Avenue bridge.
1.21EFFECTIVE DATE.This section is effective without local approval under
1.22Minnesota Statutes, section 645.023, subdivision 1, paragraph (a).
1.3funds; amending Laws 2013, chapter 143, article 9, section 23.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Laws 2013, chapter 143, article 9, section 23, is amended to read:
1.6 Sec. 23. CITY OF BLOOMINGTON; OLD CEDAR AVENUE BRIDGE.
1.7 (a) Notwithstanding any law to the contrary, the city of Bloomington shall transfer
1.8from the tax increment financing accounts for its Tax Increment Financing District No.
1.91-C and Tax Increment Financing District No. 1-G an amount equal to the tax increment
1.10for each district that is computed under the provisions of Minnesota Statutes, section
1.12the repair, restoration, or replacement of the Old Cedar Avenue bridge for use by bicycle
1.13commuters and recreational users. The city is authorized to and must use the transferred
1.14funds to complete the repair, renovation, or replacement of the bridge. Upon completion
1.15of the repair, renovation, or replacement of the bridge, the city may use any remaining
1.16funds in the account for costs of improving bicycle and pedestrian trails that access the
1.17bridge and that use is deemed to be a permitted use of the increments.
1.18 (b) No signs, plaques, or markers acknowledging or crediting donations for,
1.19sponsorships of, or naming rights may be posted on or in the vicinity of the Old Cedar
1.20Avenue bridge.
1.21EFFECTIVE DATE.This section is effective without local approval under
1.22Minnesota Statutes, section 645.023, subdivision 1, paragraph (a).
