Bill > HF2889

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 local sales and use tax, originally authorized in 1996, can end either on the new specified date or when the Hermantown City Council determines that sufficient funds have been collected to cover the costs of specific improvements and associated bond expenses. If funds remain after completing the improvements and paying off bonds, the city may transfer any surplus to its general fund. The bill includes an effective date provision stating that the change will take effect the day after final enactment and does not require additional local approval, in accordance with Minnesota Statutes. This extension will provide Hermantown with an additional ten years to collect the local sales and use tax to fund municipal projects.

Budget and Finance

https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2889&ssn=0&y=2025