AI Generated Summary
Senate File No. 1314 is a legislative proposal to amend existing laws relating to tax increment financing (TIF) specifically for the city of Ramsey, Minnesota. It aims to establish and apply special rules for a redevelopment tax increment financing district within certain boundaries in Ramsey. These rules include:
Geographic Specifics: Defines the area of the TIF district bounded by Ramsey Boulevard, Bunker Lake Boulevard (extended to Llama Street), Llama Street, and a line 600 feet south of U.S. Highway 10, excluding any park property owned by Anoka County.
Inclusion of Parcels: Specifies that certain parcels can be included in this newly created TIF district if a previous TIF district they were part of is decertified.
Eligibility Criteria Adjustment: Waives typical state requirements needed to qualify as a redevelopment tax increment district for the properties within this district.
Eligible Expenditures: Clarifies what expenditures are eligible within this district, including costs associated with the construction of the Northstar Transit Station, related infrastructure, the acquisition of land, and prior installations of public improvements.
Duration of Activities: Modifies the time requirements, allowing certain activities to be recognized if undertaken within ten years from certification, as opposed to the standard five years.
Pooling Restriction: Sets the pooling restriction for this district at 100 percent for in-district expenses, barring administrative costs.
Development Criteria: Notes certain development that occurred after previous legislation and before the current TIF plan will not be subject to specific requirements typically enforced.
Interfund Loans: Demands that any interfund loans must be resolved through city resolutions reflecting certain terms by December 31, 2025.
In essence, this bill adjusts and specifies rules to facilitate redevelopment and financing for certain projects within a defined area in the city of Ramsey, helping it potentially manage and implement urban development and infrastructure projects more effectively.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 12, 2025 | Senate | Floor | Action | Introduction and first reading | |
| February 12, 2025 | Senate | Floor | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"Clarification that requirements do not apply to specified parcels."
],
"removed": [
"N/A"
],
"summary": "This bill addresses the requirements for qualifying a redevelopment tax increment district, stating that such requirements are not applicable to certain parcels in the City of Ramsey.",
"modified": [
"N/A"
]
},
"citation": "469.174 subdivision 10"
},
{
"analysis": {
"added": [
"Exemption from specific statutory requirements."
],
"removed": [
"N/A"
],
"summary": "The bill specifies that the requirements of Minnesota Statutes section 469.176 subdivision 4j do not apply to the tax increment district in question.",
"modified": [
"N/A"
]
},
"citation": "469.176 subdivision 4j"
},
{
"analysis": {
"added": [
"Extended timeline for undertaking district activities."
],
"removed": [
"N/A"
],
"summary": "The bill extends the period for undertaking activities within the tax increment district from five to ten years.",
"modified": [
"Timeframe for activities extended from five to ten years."
]
},
"citation": "469.1763 subdivision 3"
},
{
"analysis": {
"added": [
"100% in-district percentage for pooling restrictions."
],
"removed": [
"N/A"
],
"summary": "The act specifies a 100 percent in-district percentage for pooling restrictions for this district.",
"modified": [
"N/A"
]
},
"citation": "469.1763 subdivision 2"
},
{
"analysis": {
"added": [
"Exemption for specified parcels where development conditions apply."
],
"removed": [
"N/A"
],
"summary": "The bill exempts certain parcels from this statutory requirement, given specific development conditions.",
"modified": [
"N/A"
]
},
"citation": "469.177 subdivision 4"
},
{
"analysis": {
"added": [
"Requirement for interfund loan resolutions by December 31, 2025."
],
"removed": [
"N/A"
],
"summary": "Interfund loan conditions must be reflected in resolutions by the end of 2025 for the district.",
"modified": [
"N/A"
]
},
"citation": "469.178 subdivision 7"
}
]