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MN HF2568
MN HF2568Tax increment financing required to be included for the purposes of meeting the threshold for the responsible contractor law.
summary
Introduced
03/20/2025
03/20/2025
In Committee
03/20/2025
03/20/2025
Crossed Over
Passed
Dead
Introduced Session
94th Legislature 2025-2026
Bill Summary
A bill for an act relating to contracting; requiring tax increment financing to be included for the purposes of meeting the threshold for the responsible contractor law; amending Minnesota Statutes 2024, section 16C.285, subdivision 2.
AI Summary
This bill modifies Minnesota's responsible contractor law by changing how tax increment financing (TIF) is calculated when determining whether a construction project meets the $50,000 threshold for applying responsible contractor requirements. Specifically, the bill requires that tax increment financing funds be included, rather than excluded, when calculating the total project value to determine if the responsible contractor criteria apply. Previously, TIF funds were not counted in the project's total value, which could potentially exempt some projects from the responsible contractor requirements. Under this change, more construction projects will likely be subject to the responsible contractor minimum criteria, which aim to ensure contractors meet certain professional standards. The bill maintains that for projects exceeding $50,000, contractors must meet specific minimum criteria to be eligible for public contracts, and it also clarifies that subcontractors and motor carriers must meet these standards regardless of their subcontract's value. Additionally, the bill preserves a provision allowing a contracting authority to award a contract to the sole responding contractor even if they do not fully meet the minimum criteria.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduction and first reading, referred to State Government Finance and Policy (on 03/20/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2568&ssn=0&y=2025 |
| BillText | https://www.revisor.mn.gov/bills/text.php?number=HF2568&version=0&session=ls94&session_year=2025&session_number=0&format=pdf |
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