Section 1 [City of St. Paul Sales Tax; Use of Revenues] authorizes the city of St. Paul to use excess revenue from its local sales tax for an economic development fund, if obligations for the use of the currently authorized projects are less than 40 percent of the total tax revenue in a year. The fund may be used for any economic development purposes.
Section 2 [City of St. Paul Sales Tax; Extension] extends the authority for the city of St. Paul to impose a local sales tax from December 31, 2030 to December 31, 2047.
Section 3 [St. Paul Ballpark; Property Tax Exemption] exempts any real or personal property acquired, owned, leased, controlled, used or occupied by the city of St. Paul for the primary purpose of providing a minor league baseball team. The properties would still be subject to special assessments in an amount not to exceed the special benefit received by the property. The exemption does not apply to any real property leases for residential, business or commercial development or other purposes different from those necessary to the operation of the ballpark.
Effective the day after compliance by the governing body of the city of St. Paul with filing requirements.
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