Bill Text: MN SF487 | 2011-2012 | 87th Legislature | Introduced
Bill Title: Cohasset tax increment usage for city repayment authorization
Sponsorship: Partisan Bill (Democrat 1)
Status: (Introduced - Dead) 2011-02-28 - Referred to Taxes [SF487 Detail]
Download: Minnesota-2011-SF487-Introduced.html
1.2relating to taxation; authorizing the use of tax increments to repay the city of
1.3Cohasset for certain payments.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. CITY OF COHASSET; USE OF TAX INCREMENTS.
1.6The authority operating tax increment financing districts No. 2-1 and No. 3-1 in
1.7the city of Cohasset may transfer tax increments from each of those districts to the city
1.8in an amount equal to the advances made by the city from its general fund to finance
1.9expenditures under Minnesota Statutes, section 469.176, subdivision 4, for the benefit
1.10of that district.
1.11EFFECTIVE DATE.This section is effective the day following final enactment,
1.12upon approval by the governing body of the city of Cohasset and compliance with
1.13Minnesota Statutes, section 645.021, subdivision 3.
1.3Cohasset for certain payments.
1.4BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
1.5 Section 1. CITY OF COHASSET; USE OF TAX INCREMENTS.
1.6The authority operating tax increment financing districts No. 2-1 and No. 3-1 in
1.7the city of Cohasset may transfer tax increments from each of those districts to the city
1.8in an amount equal to the advances made by the city from its general fund to finance
1.9expenditures under Minnesota Statutes, section 469.176, subdivision 4, for the benefit
1.10of that district.
1.11EFFECTIVE DATE.This section is effective the day following final enactment,
1.12upon approval by the governing body of the city of Cohasset and compliance with
1.13Minnesota Statutes, section 645.021, subdivision 3.
