SF2083 (Legislative Session 94 (2025-2026))
Oakdale tax increment financing special rules authorization
Related bill: HF1746
AI Generated Summary
This bill grants the city of Oakdale, Minnesota, special authorization to temporarily use tax increment financing (TIF) funds from TIF District No. 14 and TIF District No. 16. Specifically, Oakdale may spend, loan, or invest these transferred TIF funds through December 31, 2027, as long as the usage aligns with the city's written spending plan, as required by state law. Any unspent or uninvested funds, along with any related earnings or repayments, must be returned to the respective TIF district by the deadline.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 02, 2025 | Senate | Floor | Action | Introduction and first reading | |
| March 02, 2025 | Senate | Floor | Action | Referred to | Taxes |
Citations
[
{
"analysis": {
"added": [
"Allows special rules for Oakdale to utilize TIF from districts 14 and 16 through 2027."
],
"removed": [],
"summary": "This bill authorizes the City of Oakdale to use tax increment funds under specific provisions of section 469.176.",
"modified": [
"Extends deadline for utilizing increments to December 31, 2027."
]
},
"citation": "469.176"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "This section involves definitions relevant to tax increment financing as referenced in the bill.",
"modified": [
"Clarifies the definition of tax increment related terms under section 469.174, subdivision 25."
]
},
"citation": "469.174"
}
]