Bill > HF338

This bill modifies tax increment financing (TIF) rules in Minnesota, focusing on housing districts and extending certain timeframes for district development. Specifically, the bill removes income restrictions for housing districts located in metropolitan counties, allowing more flexibility in development. For districts certified after June 30, 2025, the bill extends the five-year rule to ten years for districts not located in metropolitan counties, giving developers more time to use tax increment financing revenues for eligible projects. The changes aim to provide additional support for housing development by giving local authorities more time and fewer constraints to complete projects. The bill applies to how tax increments can be used, when districts must be decertified, and provides extended timelines for redevelopment activities, particularly in non-metropolitan areas. These modifications are intended to facilitate more efficient and adaptable approaches to housing and community development financing, recognizing the challenges of real estate development in different regions of Minnesota.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF0338&ssn=0&y=2025