SF63 (Legislative Session 94 (2025-2026))
Plymouth tax increment financing special rules authorization
Related bill: HF512
AI Generated Summary
SF No 63 is a proposed bill focused on tax increment financing specifically for the city of Plymouth, Minnesota. This bill allows Plymouth to create up to two redevelopment districts solely within a specified area called the city center district, as shown on the city's zoning map effective January 1, 2024.
The bill sets out special rules for these districts:
- Deemed Compliance: The districts are considered to meet certain existing legal requirements for tax increment financing districts.
- Exemptions: Certain statutory provisions will not apply to these districts.
- Extended Timing: The period for using tax increments is extended from the standard five years to ten years, with an additional year to use the increment post the initial period.
The authority for Plymouth to approve a tax increment financing plan under this bill will expire on December 31, 2031.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| January 15, 2025 | Senate | Floor | Action | Introduction and first reading | |
| January 15, 2025 | Senate | Floor | Action | Referred to | Taxes |
| January 29, 2025 | Senate | Floor | Action | Author added |
Citations
[
{
"analysis": {
"added": [
"Special rules for the city of Plymouth to establish redevelopment districts."
],
"removed": [],
"summary": "This bill references the requirements for establishing tax increment financing districts under section 469.174.",
"modified": []
},
"citation": "469.174"
},
{
"analysis": {
"added": [
"Exemption of district from certain statutory requirements."
],
"removed": [
"Subdivision 4j does not apply to this district."
],
"summary": "This bill clarifies exemptions from subdivision 4j of section 469.176 for Plymouth's tax increment financing district.",
"modified": []
},
"citation": "469.176"
},
{
"analysis": {
"added": [
"Extension of the five-year rule to ten years."
],
"removed": [],
"summary": "This bill extends the timeline for the use of tax increment under section 469.1763 subdivisions 3 and 4.",
"modified": [
"The use period after the five-year period is extended to 11 years."
]
},
"citation": "469.1763"
}
]