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S.F. No. 202 - City of Canby, Authorizing TIF District
 
Author: Senator Gary H. Dahms
 
Prepared By: Eric S. Silvia, Senate Counsel (651/296-1771)
 
Date: February 25, 2013



 

S.F. 202 authorizes the city of Canby to establish a tax increment financing district in a defined area. The original tax capacity of the district is set at zero and certification of the original local tax rate does not apply.  The duration of the district is limited to 20 years and the city of Canby may use the increments as reimbursement for its payment of principal and interest on bonds issued for TIF District No. 1-21.

Effective the day following final enactment without local approval.

 

ESS/tg

 
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