Bill Text: MN HF2090 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Apple Valley; tax increment financing use authorized, and authority extended.
Sponsorship: Partisan Bill (Republican 2)
Status: (Introduced - Dead) 2012-02-17 - Referred by Chair to Property and Local Tax Division [HF2090 Detail]
Download: Minnesota-2011-HF2090-Introduced.html
1.2relating to taxation; city of Apple Valley; authorizing use of tax increment
1.3financing; extending authority.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. CITY OF APPLE VALLEY; USE OF TAX INCREMENT FINANCING.
1.6 Subdivision 1. Developments consisting of building and ancillary facilities.
1.7Notwithstanding Minnesota Statutes, section 469.176, subdivisions 4c and 4m, the city of
1.8Apple Valley may use tax increment financing to provide improvements, loans, subsidies,
1.9grants, interest rate subsidies, or assistance in any form to developments consisting of
1.10buildings and ancillary facilities, if all of the following conditions are met:
1.11(1) the city of Apple Valley finds that the project will create or retain jobs in
1.12Minnesota, including construction jobs;
1.13(2) the city of Apple Valley finds that construction of the project will not commence
1.14before July 1, 2013, without the use of tax increment financing;
1.15(3) the request for certification of the district is made no later than June 30, 2013;
1.16(4) construction of the project begins no later than July 1, 2013; and
1.17(5) for development of housing, construction of the project begins no later than
1.18December 31, 2012.
1.19 Subd. 2. Extension of authority to spend tax increments. Notwithstanding
1.20Minnesota Statutes, section 469.176, subdivision 4m, the city of Apple Valley has the
1.21authority to spend tax increments under Minnesota Statutes, section 469.176, subdivision
1.224m, until December 31, 2013.
1.23EFFECTIVE DATE.This section is effective the day following final enactment.
1.3financing; extending authority.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. CITY OF APPLE VALLEY; USE OF TAX INCREMENT FINANCING.
1.6 Subdivision 1. Developments consisting of building and ancillary facilities.
1.7Notwithstanding Minnesota Statutes, section 469.176, subdivisions 4c and 4m, the city of
1.8Apple Valley may use tax increment financing to provide improvements, loans, subsidies,
1.9grants, interest rate subsidies, or assistance in any form to developments consisting of
1.10buildings and ancillary facilities, if all of the following conditions are met:
1.11(1) the city of Apple Valley finds that the project will create or retain jobs in
1.12Minnesota, including construction jobs;
1.13(2) the city of Apple Valley finds that construction of the project will not commence
1.14before July 1, 2013, without the use of tax increment financing;
1.15(3) the request for certification of the district is made no later than June 30, 2013;
1.16(4) construction of the project begins no later than July 1, 2013; and
1.17(5) for development of housing, construction of the project begins no later than
1.18December 31, 2012.
1.19 Subd. 2. Extension of authority to spend tax increments. Notwithstanding
1.20Minnesota Statutes, section 469.176, subdivision 4m, the city of Apple Valley has the
1.21authority to spend tax increments under Minnesota Statutes, section 469.176, subdivision
1.224m, until December 31, 2013.
1.23EFFECTIVE DATE.This section is effective the day following final enactment.
