HF158 (Legislative Session 94 (2025-2026))
Tax increment financing; special rules authorized for the city of Eden Prairie.
Related bill: SF115
AI Generated Summary
This legislative bill allows the city of Eden Prairie, Minnesota, to set up two special redevelopment districts using tax increment financing (TIF), a tool that uses future increases in property taxes to fund current improvements. These districts will be located in a specific area of Eden Prairie bounded by Flying Cloud Drive, West 78th Street, and Prairie Center Drive. The bill states that these districts automatically meet certain state requirements and exempts them from others, simplifying their creation. However, the city has until December 31, 2026, to establish these districts, after which this permission expires.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 09, 2025 | House | Floor | Action | Introduction and first reading, referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"Special exceptions for the city of Eden Prairie."
],
"removed": [
"None."
],
"summary": "This bill references requirements for tax increment financing redevelopment districts under section 469.174, subdivision 10.",
"modified": [
"None."
]
},
"citation": "469.174"
},
{
"analysis": {
"added": [
"Special conditions for the Eden Prairie financing district."
],
"removed": [
"Requirements under subdivision 4j are removed for this district."
],
"summary": "This bill exempts the new tax increment financing district from the requirements of section 469.176, subdivision 4j.",
"modified": [
"None."
]
},
"citation": "469.176"
}
]