This bill authorizes the City of Apple Valley to use tax increment financing, not subject to other restrictions in the tax increment financing law, for the purpose of providing improvements, loans, interest rate subsidies or assistance in any form to developments consisting of buildings and ancillary facilities if the following conditions are met:

1. the project will create or retain jobs, including construction jobs, in Minnesota;
2. construction of the project will not start before July 1, 2013 without the use of tax increment financing;
3. the certification request is made no later than June 30, 2013;
4. construction begins no later than July 1, 2013; and
5. for development of housing, construction of the project begins no later than December 31, 2012.

This bill extends the city's current authority to spend tax increments under the temporary construction authority by an additional year.