Bill Text: MN HF732 | 2013-2014 | 88th Legislature | Introduced
Bill Title: Tax increment financing district four-year rule extended.
Sponsorship: Bipartisan Bill
Status: (Introduced - Dead) 2013-02-20 - Introduction and first reading, referred to Taxes [HF732 Detail]
Download: Minnesota-2013-HF732-Introduced.html
1.2relating to tax increment financing; extending the four-year rule for certain
1.3districts;amending Minnesota Statutes 2012, section 469.176, subdivision 6.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Minnesota Statutes 2012, section 469.176, subdivision 6, is amended to read:
1.6 Subd. 6. Action required. (a) If, after four years from the date of certification of
1.7the original net tax capacity of the tax increment financing district pursuant to section
1.8469.177
, no demolition, rehabilitation, or renovation of property or other site preparation,
1.9including qualified improvement of a street adjacent to a parcel but not installation
1.10of utility service including sewer or water systems, has been commenced on a parcel
1.11located within a tax increment financing district by the authority or by the owner of the
1.12parcel in accordance with the tax increment financing plan, no additional tax increment
1.13may be taken from that parcel, and the original net tax capacity of that parcel shall be
1.14excluded from the original net tax capacity of the tax increment financing district. If the
1.15authority or the owner of the parcel subsequently commences demolition, rehabilitation,
1.16or renovation or other site preparation on that parcel including qualified improvement of
1.17a street adjacent to that parcel, in accordance with the tax increment financing plan, the
1.18authority shall certify to the county auditor that the activity has commenced, and the
1.19county auditor shall certify the net tax capacity thereof as most recently certified by the
1.20commissioner of revenue and add it to the original net tax capacity of the tax increment
1.21financing district. The county auditor must enforce the provisions of this subdivision. The
1.22authority must submit to the county auditor evidence that the required activity has taken
1.23place for each parcel in the district. The evidence for a parcel must be submitted by
1.24February 1 of the fifth year following the year in which the parcel was certified as included
2.1in the district. For purposes of this subdivision, qualified improvements of a street are
2.2limited to (1) construction or opening of a new street, (2) relocation of a street, and (3)
2.3substantial reconstruction or rebuilding of an existing street.
2.4(b) For districts which were certified on or after January 1, 2005, and before April
2.520, 2009, the four-year period under paragraph (a) isincreased to six years deemed to end
2.6on December 31, 2016.
2.7EFFECTIVE DATE.This section is effective the day following final enactment
2.8and applies to districts certified on or after January 1, 2005, and before April 20, 2009.
1.3districts;amending Minnesota Statutes 2012, section 469.176, subdivision 6.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. Minnesota Statutes 2012, section 469.176, subdivision 6, is amended to read:
1.6 Subd. 6. Action required. (a) If, after four years from the date of certification of
1.7the original net tax capacity of the tax increment financing district pursuant to section
1.9including qualified improvement of a street adjacent to a parcel but not installation
1.10of utility service including sewer or water systems, has been commenced on a parcel
1.11located within a tax increment financing district by the authority or by the owner of the
1.12parcel in accordance with the tax increment financing plan, no additional tax increment
1.13may be taken from that parcel, and the original net tax capacity of that parcel shall be
1.14excluded from the original net tax capacity of the tax increment financing district. If the
1.15authority or the owner of the parcel subsequently commences demolition, rehabilitation,
1.16or renovation or other site preparation on that parcel including qualified improvement of
1.17a street adjacent to that parcel, in accordance with the tax increment financing plan, the
1.18authority shall certify to the county auditor that the activity has commenced, and the
1.19county auditor shall certify the net tax capacity thereof as most recently certified by the
1.20commissioner of revenue and add it to the original net tax capacity of the tax increment
1.21financing district. The county auditor must enforce the provisions of this subdivision. The
1.22authority must submit to the county auditor evidence that the required activity has taken
1.23place for each parcel in the district. The evidence for a parcel must be submitted by
1.24February 1 of the fifth year following the year in which the parcel was certified as included
2.1in the district. For purposes of this subdivision, qualified improvements of a street are
2.2limited to (1) construction or opening of a new street, (2) relocation of a street, and (3)
2.3substantial reconstruction or rebuilding of an existing street.
2.4(b) For districts which were certified on or after January 1, 2005, and before April
2.520, 2009, the four-year period under paragraph (a) is
2.6on December 31, 2016.
2.7EFFECTIVE DATE.This section is effective the day following final enactment
2.8and applies to districts certified on or after January 1, 2005, and before April 20, 2009.
