Bill > SF65

This bill modifies special tax increment financing (TIF) rules specifically for the city of Maple Grove, extending and expanding provisions for a designated project area. The bill allows the city to create special TIF districts with unique characteristics, including a "soil deficiency district" for areas with challenging terrain or soil conditions that require substantial preparation for development. Key changes include extending the five-year rule to 13 years (instead of eight), allowing up to 40% of tax increment revenues to be spent on activities within the broader project area, and permitting tax increment collection for up to 25 years (increased from 20 years) in soil deficiency districts. The bill also provides flexibility for using tax increments to acquire parcels and fund infrastructure for qualified developments, with specific restrictions—notably that such developments cannot be retail or housing improvements. The changes are designed to support economic development in an area with complex geographical and developmental challenges, and include specific effective date provisions contingent on local government and school district compliance with state regulations. The bill's authorization for creating these special TIF districts was originally set to expire on June 30, 2020, though the text doesn't clarify if this expiration date has been extended.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0065&ssn=0&y=2025