SF85

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.