Bill > SF3017

This bill extends the duration of a local sales and use tax in Hermantown, Minnesota, by modifying an existing law to change the tax termination date from December 31, 2036, to December 31, 2046. The tax will still end either on that date or when the Hermantown City Council determines that sufficient funds have been collected to cover the costs of specified improvements and associated bond expenses. Any remaining funds after completing the improvements and retiring the bonds can be placed in the city's general fund. The bill will take effect the day after final enactment and does not require additional local approval. This type of local sales and use tax extension is a common mechanism for municipalities to fund specific infrastructure or development projects by collecting a small additional sales tax that is then used to finance local improvements.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF3017&ssn=0&y=2025