Bill > SF2405

This bill modifies the tax 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. The bill allows housing and redevelopment authorities to levy special benefit taxes within their operation area, which will be collected by the county treasurer and kept in a separate "housing and redevelopment project fund." These funds can only be used for purposes outlined in Minnesota Statutes sections 469.001 to 469.047 and must be approved by the city's governing body. The authority is required to file a budget by August 1st each year, and the tax levy for the following year will be based on that budget. If the housing and redevelopment authority has not previously certified a levy, it must comply with the requirements of section 275.067. The key change is effectively doubling the potential tax levy rate, which could provide more financial resources for housing and redevelopment projects in Minnesota cities.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF2405&ssn=0&y=2025