HF1863

This bill proposes an amendment to Minnesota Statutes 2024, section 469.033, subdivision 6, to modify the levy limits for Housing and Redevelopment Authorities (HRAs). Specifically, it increases the maximum allowable special tax levy for HRAs from 0.0185% to 0.037% of estimated market value, subject to approval by the governing body of the city in which the HRA operates.

The bill also outlines that all taxable property within an HRA’s operational area constitutes a taxing district that can be assessed special benefit taxes. These taxes will be collected along with state, county, and municipal taxes, with the revenue directed to a housing and redevelopment project fund. Funds from this tax must be used exclusively for purposes outlined in sections 469.001 to 469.047 of Minnesota law.

Additionally, the bill requires HRAs to file an annual budget in accordance with city procedures, and tax levies for the following year must be based on this budget. The provisions of section 275.067 apply to any HRA that has not previously certified a levy.