SF85 (Legislative Session 94 (2025-2026))
City of Brooklyn Center tax increment financing special rules authorization
Related bill: HF1070
AI Generated Summary
This bill proposes allowing the city of Brooklyn Center, Minnesota, to establish up to two redevelopment tax increment financing (TIF) districts in a specific area known as the Opportunity Site. This area is defined by certain roads and boundaries within the city. The bill includes special rules for these TIF districts: they automatically meet certain state statutory requirements typically needed for TIF approval, and another state rule related to tax increment financing will not apply to these districts. Additionally, the legislation sets a deadline: the authority to create a TIF plan under this bill will end 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 |
| February 02, 2025 | Senate | Floor | Action | Author added |
Citations
[
{
"analysis": {
"added": [
"Deems certain districts to meet requirements without additional conditions."
],
"removed": [],
"summary": "This bill modifies the tax increment financing requirements under section 469.174 for certain districts.",
"modified": []
},
"citation": "469.174"
},
{
"analysis": {
"added": [],
"removed": [
"Subdivision 4j requirement for the district is no longer applicable."
],
"summary": "Exempts districts from meeting subdivision 4j of section 469.176.",
"modified": []
},
"citation": "469.176"
}
]