HF1746 (Legislative Session 94 (2025-2026))
Oakdale; special tax increment financing rules authorized.
Related bill: SF2083
AI Generated Summary
This bill authorizes the city of Oakdale, Minnesota, to temporarily use tax increment financing (TIF) funds from TIF District No. 14 and TIF District No. 16 beyond the standard time limits set by state law. It allows the city to spend, loan, or invest these transferred TIF funds through December 31, 2027, as long as their use aligns with the city's written spending plan. Any unspent, unloaned, or uninvested funds by the deadline must be returned to the original TIF district, including any interest, proceeds, or repayments associated with the transferred amounts.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 02, 2025 | House | Floor | Action | Introduction and first reading, referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"Allows use of increment from TIF District No. 14 or 16 through December 31, 2027, per city spending plan."
],
"removed": [],
"summary": "The bill provides the city of Oakdale with special rules regarding the use of tax increment financing (TIF) under section 469.176.",
"modified": []
},
"citation": "469.176"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The bill references the definition of tax increment under section 469.174, subdivision 25 in the context of returns.",
"modified": []
},
"citation": "469.174"
}
]