Bill > HF1863

This bill modifies the levy limits for housing and redevelopment authorities in Minnesota by increasing the maximum tax levy rate from 0.0185 percent to 0.037 percent of estimated market value. Currently, housing and redevelopment authorities can levy special benefit taxes within their operational area, subject to city governing body consent. The bill allows these authorities to collect more tax revenue, which must be kept in a separate "housing and redevelopment project fund" and can only be used for specific housing and redevelopment purposes. The authority must submit an annual budget by August 1st, and the tax levy for the following year will be based on that budget. For housing and redevelopment authorities that have not previously certified a levy, they must follow additional requirements outlined in section 275.067 of Minnesota statutes. This change effectively doubles the potential tax levy rate for these authorities, potentially providing them with increased financial resources for housing and community development projects.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF1863&ssn=0&y=2025